The much talked about teaser home loan scheme got away with yet another extension of 1 month. The fate of the scheme will be decided in the monetary policy review of RBI scheduled for 3rd May.
The scheme was much appreciated by the borrowers and also the lender enough profit from this scheme. In this scheme during first few years the borrowers are charged with a fixed interest rate that is lower than the card rates and from fourth year the interest rates goes floating.
Reserve Bank of India was never in favor of such a scheme and so has to face its constant opposition.
A bank official said “The scheme will be offered till the monetary policy review of RBI or till the bank reviews its annual accounts, whichever is earlier.”
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