Cheaper Home Loans by PSU Banks

Recently, state-run banks announced to offer cheaper loans rates on the home loans for first five years. The offer is for upto Rs 30 lakh on 9.25%. Currently, this offer is only for Rs 20 lakh on 9.25% interest rates by public sector banks but the scheme will open till 30th June 2009.After restructuring banks loan slabs the special offer is available for Rs 30 lakh according to the executives. For instance, Corporation bank has replaced Rs 5-20 lakh loan with new slab of up to Rs 30 lakh.JM Garg who is the chairman and managing director of banks said with ET, “We are working on restructuring of slabs for home loans to bring...

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