Date:31/08/2004 URL: http://www.thehindu.com/2004/08/31/stories/2004083103281401.htm

Business - Briefly

State Bank hikes home loan rates

MUMBAI, AUG. 30. State Bank of India today raised the housing loan rates by 25 to 50 basis points with immediate effect. However, there is no change in the floating interest rates.

The bank has increased the fixed interest rates up to five years from 7.75 per cent to 8 per cent. In the above five years and up to 15 years category the rates have increased from 8.25 to 8.75 per cent. For above 15 years and up to 20 years the rates have been hiked from 8.50 to 9 per cent.

Our Special Correspondent