Pay more under SBI teaser loan scheme!
Teaser loans are offered to ease a a borrower’s tension but nobody knows what is in store for future!
A time being relief can be obtained by availing loans under teaser loan scheme.
State Bank of India (SBI) had provided home loans based on teaser rate scheme three years ago.
A home buyer had to pay less that time. But now, be ready to shell out more after three years!
The central bank will start charging interest rates based on floating rate from January 2012.
The schemes that were released in the market were SBI Easy Home Loan and SBI Advantage Home Loan based on fixed rate basis for three years. The rate of interest will be around 10.75-11.25 per cent based on the amount of loan availed.
Source: Business Standard
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