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‘No sharp rise in rates in 2-3 months’
Published on 18 Apr. 2010 12:22 AM IST
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State Bank of India (SBI) does not see interest rates rising sharply in the next 2-3 months as the credit off-take is slow and may continue to remain low in April-June quarter.
“There is still a fair amount of liquidity in the system so possibly during the next 2-3 months’ despite the upward bias there may not be much hike in the interest rates,” SBI chairman OP Bhatt said. He said that the current quarter is relatively quiet in terms of credit offtake.
On the issue of withdrawing teaser rate, Bhatt said he would wait for the RBI monetary policy review on April 20 to decide on teaser home loans. In the teaser rate, interest rates are lower and of fixed value in the initial years and turn floating in the remaining years. SBI’s offer of concessional first year loan at 8% interest rate is coming to end this month.

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