SBI Reduces Home Loan Rate by 25 bps

sbi-reduces-home-loan-rate-by-25-bps
May 08, 2017 Share

With SBI(State Bank Of India), the leading lender in India, trimming down the home loan rate up to Rs. 30 Lakh, the eligible customers have started exhilarating over the cutback of 25 bps. The interest rate will be 8.35 percent per annum for home loan up to Rs 30 Lakhs. On top, SBI has also announced an interest subvention of Rs. 2.67 Lakhs under Pradhan Mantri Awas Yojona Scheme which has been beneficial for one and all. While for home loans over Rs 30 Lakh, the interest rate will be 8.5 percent, for loans above Rs. 75 Lakh, the rate will remain unaffected at 8.6%.

Especially, the customers of State Bank of India have not only found this scheme easier, but with the EMI being curtailed down by 11% for Rupees 1 Lac, the investors have now seemed to literally thrilled over the cause. Also, with stripping its interest rate by 0.15 percentage points, SBI, India’s largest bank has now declared to slice down the interest rate to provide the home buyers with the much needed comfort as well as solace. This score will be implemented for them taking home loans up to Rs 75 Lac.

However, this strong initiative by State Bank of India is likely to persuade other banks to follow the trail and bring in much relieve to the home buyers. In addition, the reduction in home loan rate has come into effect only after the fall of MCLR by 0.15 percentage points in past few months, which clearly states the accomplishment of the move. With this new stir, the EMI for women as well as the other borrowers will also be reined in to some extent.

The significant reduction in the interest rate is now expected to come to a great aid to millions of home buyers across the country.The new rate will be effective from 9 May 2017.

Share Your Comment 0 Comments

Investment Opportunities

  • Price on Request
    purva-silversands
    Purvankara presents Purva Silversands 1, 2, 3 and 4 bhk apartments project in Keshav nagar, Pune which is a project spread across...
  • ₹ 65 L - ₹ 85 L
    godrej-rejuve
    Godrej Properties Launching Pune’s first community dedicated to Healthy living, Godrej Rejuve at Keshavnagar. A remarkable p...
  • Duville Riverdale Heights, by Duville Estates, presents an array of 1 bhk & 2 bhk new launch flats at Kharadi, Pune. An ideal...
  • Vascon and Clover Builders brings to you Forest County spacious 2 bhk and 3 bhk new launching apartments in Kharadi, An 18 acres l...
  • Price on Request
    vascon-forest-edge
    Vascon Forest Edge developed by the Vascon Group, the under construction residential apartments in kharadi with wide range of amen...
  • ₹ 62.6 L - ₹ 98.06 L
    geras-misty-waters
    Overview Gera’s Misty Waters by Gera Developments Pvt. Ltd., is a residential venture that consists of 2 BHK and 2.5 BHK...
  • Price on Request
    goel-ganga-platino-iii
    Ganga Platino III , by Goel Ganga Developments presenting premium 2 & 3 BHK XL Residences in Kharadi, Pune. Luxurious livin...
  • ₹ 66.72 L - ₹ 73.27 L
    nyati-elysia-ii
    Overview Nyati Elysia II, a presidential project by Nyati Group offes 2 BHK premium homes in Kharadi, Pune. Experience the harm...
  • Price on Request
    forest-county
    Vascon and Clover Builders brings to you Forest County 2 bhk and 3.5 bhk under construction apartments in kharadi, An 18 acres lu...
Disclaimer - The particulars contained on the mentions details of the Projects/developments undertaken by the Company including depicting banners/posters of the Project. The contents are being modified in terms of the stipulations / recommendations under the Real Estate Regulation Act, 2016 and Rules made thereunder ("RERA") and accordingly may not be fully in line thereof as of date. You are therefore required to verify all the details, including area, amenities, services, terms of sales and payments and other relevant terms independently. FourrWalls does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the information contained herein. You are advised to conduct an independent verification before entering into any transaction.
Read More...