Reported By:
| Edited By: Neelasri Barman |Source: DNA |Updated: Mar 18, 2018, 03:50 AM IST
SBI’s home loans portfolio as on June 30, 2011 stood at Rs89,881 crores recording a growth of 20.37% year-on-year. This growth is higher than the industry home loans growth of 17% recorded in April, May and June 2011.
When State Bank of India’s (SBI) chairman Pratip Chaudhuri discontinued “SBI Easy Home Loan and SBI Advantage Home Loan” popularly known as teaser loans from May, he was confident that the SBI’s home loans portfolio will continue to grow and the bank will be able to maintain its number one position in the home loans market. And he was proved right.
Under the teaser scheme the bank charged a slightly lower interest rate for the first few years of a home loan re-payment. The scheme was stopped after the RBI raised concerns.
