SBI extends special home loan scheme for women

State Bank of India on Wednesday extended the last date for special home loan scheme offering concessional rate to women borrowers.

 Under the scheme, women borrowers will get an additional 0.05 per cent concession on card rates.

 The special rates were made available up to March 31 but that has been extended till further notice from the bank, SBI said in a statement.

 The scheme has been extended in view of the overwhelming response received across the country.

Loans of up to Rs 75 lakh would be available to new borrowers at 10.15 per cent against the existing rate of 10.50 per cent. For women borrowers, the rate - after an additional concession of 0.05 per cent - would be 10.10 per cent.

For loans of above Rs 75 lakh, the new rate would be 10.30 per cent. For women borrowers it is 10.25 per cent.

This scheme is valid for women as sole applicants or the first of the co-applicants as also for the sole or the first of the co-owners of the property.

In October, SBI had reduced interest rates on loans for car and consumer durables and also decided to lower processing charges to cash in on the festival season demand.