The country’s largest lender, State Bank of India (SBI), today said it has no plans to revise its most popular home loan scheme which charges 8 per cent interest for the first year.

BSE  |  NSE Price

Also Read   Related Stories News Now - Law to cut SBI stake likely soon - Union threatens strike against State Bank of Indore-SBI merger - SBI not to change home loan rates immediately - Financial Reforms: PFRDA, SBI Bills likely in winter session - SBI to close its 8% home loan scheme after this week - Vishal Retail inks CDR pact for Rs 730 crore   Also Read   Related Stories News Now - Sensex weak in early trades - United Spirits hits new 52-wk high on distillery acquisition - Bajaj Auto gains on product launch plans - Pak must abjure terrorism, come for talks: Manmohan - Liberhan Commission report to be tabled in Parliament More

The clarification comes amid media reports that SBI may withdraw the scheme from November 7.

“News reports have been appearing in various newspapers across the country indicating that SBI plans to withdraw its special home loan schemes carrying an interest rate of 8 per cent for the first year of the repayment period. SBI has no immediate plans to revise interest rates on home loans,” the bank said.

The scheme was launched in February which other banks were forced to follow later. SBI had extended this fixed rate scheme for auto loans too.

When SBI launched the home loan scheme in February, it was applicable till April-end. However, the lender later extended the deadline to September, which was further extended with no deadline set for its closure.

Other Stories      - Sensex weak in early trades - United Spirits hits new 52-wk high on distillery acquisition - Bajaj Auto gains on product launch plans - Pak must abjure terrorism, come for talks: Manmohan - Liberhan Commission report to be tabled in Parliament More

Tags : SBI | home loan scheme | 8% |   Read Business news in  Advertisements   Get financial advisory and solutions for your projects   Holidays starting at a delightful EMI of Rs 3481   Switch on and say hello to Monday morning !   Your dream home can now be a reality.   Visit Fortis for a preventive health check-up & get a 20% discount.   Follow the ups and downs of your investments. Try our new Portfolio Tracker   Kolkata Dock \ Freight contract for the British Gurkhas Nepal   Find how Midsize Businesses use ERP to gain competitive advantage   Trading in Forex is now as easy as 1-2-3   Discover an economical and cost effective way to market your products and services   Giftwithlove.com: Same day delivery of Flowers and Cakes to India   Download the E-book on the Future of Business Intelligence   Learn Best Practices for improving customer satisfaction   Know your customers better... download the free e-book on CRM