The State Bank of Travancore (SBT) has extended the period of its Aishwarya Home Loan scheme till March 31, 2010, with the reintroduction of processing charges.
According to the scheme, home loans availed of during the period will be charged at the rate of 8 per cent (fixed) during the first year, 9 per cent (fixed) for the next two years for up to Rs 30 lakh and at 9.5 per cent (fixed) for the next two years for above Rs 30 lakh.
The interest rates for these loans thereafter will be at 2.5 per cent below prime lending rate (floating) for limits up to Rs 30 lakh and at 2 per cent below prime lending rate (floating) for limits above Rs 30 lakh, the bank said in a press release here on Tuesday.
Meanwhile, SBT withdrew the Aishwarya Car Loan scheme effective today (December 1), and accordingly the SBT Car Loan scheme will be available at normal rates with processing charges.
The normal rates of the bank car loan scheme ranges from 11 per cent to11.25 per cent for a tenure of up to seven years, the release added.