After the two big lenders the State Bank of India and HDFC bank, State Bank of Hyderabad has extended its special interest rates for home and car loans.
The bank said the interest rates of home loans for first year will remain at 8.5% (fixed) and for the second and third years for loan up to Rs 50 lakh it would be offering 9.25% (floating) further for the second and third years for loans above Rs 50 lakh it is offering 9.5% (floating).
The bank will link the rate to base rate from the fourth year onwards which will be 9.75% for loans up to Rs 50 lakh and for loans above Rs 50 lakh the rate will be 10.75%.
SBH has set its base rate at 7.75%.
On car loans bank is offering interest rate of 8.5% (fixed) for new cars for the first year and for second and third years it is offering floating rate at 10.5%. Thereafter from fourth year onwards, bank will link the rate to base rate which will be 11.5% for loans up to Rs 5 lakh and for loans above Rs 5 lakh the rate will be 11.25%.
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