April 21, 2011 / 23:34 IST
By: Lovaii Navlakhi
At a time when people were afraid of lending money to one another, SBI came as a knight in shining armor to save them not only by lending them money; but by lending to them at a lower rate. They brought the concept of teaser loans- where a person would be charged a lower rate of interest in the first few years after which the rates would be normalized. This became a rage for consumers all over the country and everyone wanted a home as they could "finally" afford one. However, they seemed to have forgotten one small detail.
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