KARNATAKA

SBI offers festival schemes

HASSAN, OCT. 11. The State Bank of India (SBI) will offer special schemes for those availing themselves of housing, car and personal loans from the bank during festivals such as Deepavali and Dasara.

The senior manager, SBI, Hassan, A.B. Baadkar, told presspersons here that the bank launched its schemes offering concessions on various loans on Sunday.

They would be effective till October 22. Such schemes would be introduced again on November 8 and would be effective till November 15.

Mr. Baadkar said the bank was offering a floating interest rate of 7.25 per cent a year as against the card rate of 7.50 per cent and concessional fixed rate of 8 per cent a year against the card rate of 8.25 per cent for 20 years on housing loans.

The concessional floating rate on car loan was 8 per cent a year against the card rate of 9.25 per cent a year and concessional fixed rate of 8.25 per cent for three years. The interest rates on floating and fixed loans were 8.50 per cent and 9 per cent for a period between 3 and 7 years.

The concessional floating rate on personal loan was 11 per cent a year against the card rate of 12.75 per cent a year for up to 4 years, he said.

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