Thursday, August 18, 2011

Teaser Loan Back with a Bang (Bank!)

After SBI was forced to close its teaser loan scheme, teaser loans are back with ICICI Bank. 
It'd be interesting to know the response from SBI, being the pioneer of teaser loans. 
Look for HDFC as well, because generally HDFC and ICICI Bank go along similar lines.

The floating rate from the second year will be linked to the base rate plus margin decided at the time of sanction of the loan. 
There is always a catch associated with it.  
Why can't these banks disclose the spread in advance?  

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