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SBI to review home loan rates in another 10 days

Country's largest lender State Bank of India on Tuesday said it would review the interest rates on home loans in the next 10 days.
PTI | By HT Correspondent, New Delhi
UPDATED ON JUL 01, 2008 11:10 AM IST

Country's largest lender State Bank of India on Tuesday said it would review the interest rates on home loans in the next 10 days.

"We are still examining the market condition and will take a view on home loan rates in another week or 10 days," SBI Chairman O P Bhatt told reporters in New Delhi.

SBI had increased its PLR by 50 basis points to 12.75 per cent last week. Following the hike in lending rates, the bank also increased deposits rates for various maturities.

The bank expects net interest margin in the range of three per cent as compared to 3.09 per cent in the previous year.

Bhatt said credit growth this year would moderate by 2-3 per cent and aims advances to grow at 20-21 per cent.

Speaking about profitability, he said less business would mean less profitability. Impact on volume would have some impact on profitability.

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