The State Bank of India (SBI) is investing in accommodation-based property in Singapore, ensuring higher grade housing requirements of its expatriate staff, a media report said today.

The apartment purchases should help reduce rental costs by 20 to 25 per cent within the next three years, SBI Singapore Chief Executive and Country Head Anil Kishora was quoted as saying in a report by local daily 'The Straits Times'.

"It will stabilise our cost base.