SBI says no plan to launch teaser loans

THE country's largest Bank SBI (State Bank of India) said it has no plans to relaunch the dual or fixed-rate home loan products, popularly called teaser loans, as was done by its private sector rival ICICI Bank last week.

Mr. Pratip Chaudhuri SBI chairman said  “Right now, there is no plan for teaser loans,“ 
SBI's recent experience with the regulator  Reserve Bank of India (RBI), when the bank had argued that its dual-rate loan was not a risky teaser loan as was being made out by the RBI, Chaudhuri said, “The loan that we had earlier, in spite of lots of persuasion with RBI they called it a teaser loan.“

Mr. Pratip Chaudhuri also added, “Today, our home loan products are widely accepted and there is no shortage of demand for them.“

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