Multiple choice

As per concessional Home Loan Scheme announced by all PSU Banks (2008), the rate of interest for loans of Rs. 5 lakh - 20 lakh shall not exceed ……… for first five Years :

  1. 9.25%

  2. 9.00%

  3. 9.02%

  4. 9.20%
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In December 2008, as part of a stimulus package, Indian Public Sector Undertaking (PSU) banks capped interest rates for new home loans. Loans between 5 lakh and 20 lakh rupees were set at a maximum of 9.25 percent for the initial five year period.

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