Mumbai: State Bank of India (SBI), the country’s largest lender, has extended its new home loan and car loan schemes till September from June.
The public sector bank had in February introduced home loans at 8% and car loans at 10% interest rates for the first year to give a fillip to the depressed sectors. After a year, the interest rates will be set at rates prevailing at the time.
In a statement on Monday, SBI said the schemes have proved to be “tremendously popular” and has been instrumental in stirring the sluggish housing and automobile industry.
It did not disclose how many people have availed loans under these schemes so far.