RATES
OF INTEREST CHARGED BY STATE BANK OF INDIA
(Referred to in Rule 3 of Income Tax Rules)
| Purpose of Loan | As on 1.4.2003 – relevant for Financial Year 2003-04 | As on 1.4.2004 – relevant for Financial Year 2004-05 |
| Housing | 9% upto 10
years 9.5% beyond 10 years |
7.75 % upto
5 years 8.25 % from 5 – 15 years 8.50 % from 15 – 20 years |
| Car | 10.25% upto
3 years 11 % beyond 3 years |
9.5% upto
3 years 10.25 % from 3 – 7 years |
| Education | 10.85% upto
Rs 4 lakhs 11.85 % beyond Rs 4 lakhs |
10.50% upto
Rs 4 lakhs 11.50 % beyond Rs 4 lakhs |
| Personal | 13.35 % | 12.75 % |
Source
: Article published in The Chartered Accountant, May 2004