Mumbai:
The State Bank
of Travancore (SBT) has slashed the interest rate on housing
loans to 11.25 per cent. The revised rate will be applicable
to borrowers who have been regular in repayment.
The bank has decided to waive the processing fee on housing loans
up to 31 March 2002 as a
special offer, according to an SBT press communiqu.
Those who have taken loans at higher rates of interest from other
banks
or institutions can also avail themselves of the lower rate on
transfer of the loans to SBT, the statement added.
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