 "SBI, HDFC Ltd announce end to concessional loan offers")
State Bank of India's (SBI) home loan rates will start from 6.95 per cent from April 1, according to the lender's website.
SBI had a special offer in March that offered home loans started from 6.7 per cent. The state-owned bank has a home loan portfolio of Rs. 5,00,000 crore, making it the market leader.
HDFC Ltd had a concessional offer running under which the starting interest rate was 6.7 per cent. This offer too was supposed to end on March 31, 2021. HDFC Ltd's web site, however, is still showing a starting rate of 6.7 per cent.
Other players may also follow suit and raise their interest rates. Some other companies whose starting loan rates are low at present include Punjab and Sind Bank (6.65 per cent), ICICI Bank (6.70 per cent), and Bank of Baroda (6.75 per cent).
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%