SBI has launched a personal loanscheme with much lower interest as compared to private sector banks. It has offered loan at rate 11.25% to the existing home loancustomers. According to the scheme, the value of the property for which the borrower is paying EMI is being evaluated. 75% of the amount will be provided by lender to the customer applying for personal loanafter deducting the outstanding property loan amount.
"It is too early to gauge how successful the scheme is since it was launched less than a month back," said an official from SBI on condition of anonymity.
Industry experts believe that this type of scheme which benefits home loan borrowers in opting for personal loans to will attract customers of other banks too. SBI has made a mark being one of the largest players in home loan segment.
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