To reduce defaults SBI hikes home loan tenure to 30 years
2 views
Skip to first unread message
alok agarwal
Oct 23, 2011, 8:45:05 AM10/23/11
to
There is some good news for home loan borrowers, with the State Bank of India increasing loan tenures by 10 more years.
Other banks are expected to follow suit.
Banks normally keep the equated monthly instalment on home loans intact and extend tenure to pass on the rate increase.
SBI
has allowed stretching the loan repayment tenure to a maximum of 30
years as interest rates have risen by 250-300 basis points in the past
year and a half.
Reply all
Reply to author
Forward
0 new messages