Bank of India has said it was not looking at hiking lending rates at least till May-June. Private sector lenders like ICICI Bank, HDFC Bank and Kotak Mahindra Bank, on Thursday, announced rise in their lending rates to pass on the burden of rising cost of funds to customers.
Both ICICI Bank and home-loan lender, HDFC also discontinued their special home-loan schemes or ‘teaser’ schemes, under which customers could avail loans at cheaper rates.
Bank of India, one of the country’s largest lender, will take a call on whether to continue its special home-loan scheme, under which it offers loan at 8 per cent fixed rate for a fixed period to customers, by the end of March, according to a top bank official.
Friday, March 26, 2010
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