Reputation is not built on fine print

Banking behemoth State Bank of India (SBI) is causing quite a stir in the home loan market with its 8% fixed rate product. New applicants are being offered home loans at 8% for a year.

Now SBI's ads are not exactly Cannes material (as you can see in the pic here) but one thing that stands out is the clarity with which the offer is presented without resorting to sneaky fine print. There is no attempt to hide the condition that the rate will be reset after a year.

When you've got a product like this, it's quite tempting to trumpet the big promise and shove the caveats under the carpet. Kudos to SBI for resisting the temptation. Being honest and upfront is key in Marcom, especially when you're looking to sign up customers for the long term. Is it a surprise then that SBI features among the world's 50 most reputed firms?