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Special rates indefinitely
Women borrowers, take note! State Bank of India has extended the timeline for the special rates it is offering on home loans taken by women.
The lower rates, which were introduced late last year, were set to cease by end-March. The rates apply when a woman is either the sole applicant or the first of co-applicants as well as the sole or first of the co-owners of the property.
Loans up to ₹75 lakh carry an interest rate of 10.1 per cent, against the 10.15 per cent the bank offers everyone else. For loans above this amount, the bank charges 10.25 per cent.
Be prepared
In more home loan hope, a working group of the Reserve Bank of India has suggested that banks enforce changes in floating-rate home loans only on agreed dates. This way, you may not be caught by surprise and be unprepared when banks reset their lending rates. So look forward to some advance notice if this suggestion is implemented.
New credit cards
Citibank has introduced two of its global high-end credit cards in India.
One is the Citi Prestige and the other is the Citi Ultima Infinite. The former offers benefits on travel, usually through discounts on flights, stay and dining in luxury hotels.
The Citi Ultima Infinite is available exclusively by invitation and comes with a personal lifestyle manager.
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