SBI to review home loan rates in 10 days

SBI to review home loan rates in 10 days
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First Published: Tue, Jul 01 2008. 11 56 AM IST
Updated: Tue, Jul 01 2008. 11 56 AM IST
PTI
New Delhi: Country’s largest lender State Bank of India (SBI) has said that it would review the interest rates on home loans in the next 10 days.
“We are still examining the market condition and will take a view on home loan rates in another week or 10 days,” SBI Chairman O P Bhatt told reporters here.
SBI had increased its PLR by 50 basis points to 12.75% last week. Following the hike in lending rates, the bank also increased deposits rates for various maturities.
The bank expects net interest margin in the range of 3% as compared to 3.09% in the previous year.
Bhatt said credit growth this year would moderate by 2-3% and aims advances to grow at 20-21%. Speaking about profitability, he said impact on volume would have some impact on profitability.
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First Published: Tue, Jul 01 2008. 11 56 AM IST