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This is an archive article published on December 15, 2009

IDBI Bank to offer homeloan at 8.25%

Taking a cue from biggies like SBI,ICICI Bank and HDFC,state-owned IDBI Bank joined the home-loan war by offering 8.25 per cent fixed rate for all its new loans till March 2012.

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Taking a cue from biggies like SBI,ICICI Bank and HDFC,state-owned IDBI Bank joined the home-loan war by offering 8.25 per cent fixed rate for all its new loans till March 2012.

The offer is applicable to all new home-loan customers applying on or before March 31,2010,and taking a part or full disbursement during the offer period,an IDBI Bank press release said.

After the offer period,interest rate will be charged based on the then prevailing floating rates,the bank said.

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Presently IDBI Bank is offering 8.75 per cent for loans up to Rs 30-lakh,9 per cent for loans between Rs 30- lakh and up to Rs 50-lakh and 9.25 per cent for loans above Rs 50-lakh.

A host of lenders,including market leaders State Bank of India and ICICI Bank had announced similar schemes in the recent past to woo aspiring home buyers.

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