The Hindu Business Line : SBH hikes home loan rates by 50 bps

State Bank of Hyderabad (SBH) has announced an upward revision in interest rates by 50 basis points on housing loans for all tenures from March 1. In a press release here on Monday, the bank said the slab period has been revised to 5-15 years instead of 5-10 years to suit the needs of the customers/borrowers and also to make the scheme more customer friendly.

The bank said it is offering this flexibility to customers to avail themselves of the loan up to 15 years at the competitive rate applicable for short period of above five years, the SBH release said. Up to 5 years, the rate has been hiked to 8 per cent (7.5 per cent) for fixed and 8.5 per cent (8 per cent) for floating loans. For 5-10 years which has now been revised to 5-15 years, the rate has been hiked to 8.75 per cent (8.25 per cent) for fixed and 9.25 per cent (8.75 per cent) for floating. Again for 10-20 years where the tenure has been changed to 15-20 years, it has been hiked to 9 per cent (8.5 per cent) for fixed and 9 per cent (9.5 per cent) for floating.

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