NEWS & ADVICE : HOME LOANS
SBI scheme to offer lower rates on home loans to lure more buyers
By Joseph Samson
Feb 11, 2014
Print    Email    RSS   

In order to attract more number of customers country’s largest public sector Bank State Bank of India has decided to provide home loans to customer at lower rates. SBI is offering is home loans on lesser rates in comparison to its competitor banks.

SBI is providing the rate of 10.15%, the base rate of the bank is 10%. Base rate is basically the minimum rate of the bank below which it cannot lend. For a sum up to Rs75 lakhs banks is providing interest rate of 10.15%, where as HDFC bank and other banks are providing at a rate of 10.25%. A senior official of the SBI reported that the bank’s measure to lower the rates is to provide the customers the offer to switch over to SBI. The bank is offering the lower rates to the customers of the competitor banks, where as many of the bank’s customers are paying higher rates. The bank’s scheme is only for the new buyers. It is expected the banks are now focusing on larger loans by offering uniform rates up to 75 lakhs as against Rs 30 lakhs earlier.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Reasons for rejection of loan application
Property: A good investment option to...
Home Loan: A way to reduce your taxable...
Bank of Maharashtra reduces home loan rates
An insight into the era of teaser loans


how to cheak my old houshing loan stetus im see my...
PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive