The Hindu Business Line : SBH cuts interest rates

State Bank of Hyderabad (SBH) has reduced interest rates on housing and education loans by 25 and 50 basis points respectively. The motive behind the cut in rates is to "remain competitive'' in the market and not to drive volume growth, Mr Amitabha Guha, Managing Director, SBH, told newspersons here on Friday. The interest on deposits and the Benchmark Prime Lending Rate (BPLR) at 13 per cent had not been changed, he said. As per the revised rates to be effective from February 11, interest on housing loans up to Rs 20 lakh would be 9.25 per cent, 10 per cent and 10.25 per cent for the periods up to five years, five to 15 years and 15 to 20 years respectively. - Our Bureau

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