SBI
State Bank of India (SBI) has offered an all-time low interest rate to its customers interested in investing in the sector. SBI offers a low interest rate of 10.25 per cent for housing loans up to 30 lakhs and 10.4 per cent for amount above 30 lakhs, said Avinash Kumar, SBI chief manager. A three [...] Continue Reading »
Shares in State Bank of India fell 1.1 percent as a result of their declaration to cut home loan rates for new borrowers. SBI cut its rate on auto loans to 10.75 percent from 11.25 percent, while cutting home loans to a range of 10.25 percent to 10.4 percent depending on the lent amount. The [...] Continue Reading »
As real estate sector in India faces a dip, domestic lenders with major retail loan are keeping an intense look at the situation. While the hub of realty sector, Mumbai, is going through a slump, the lenders are concentrating on the new emerging markets – Pune, Bhopal, Indore, Surat, Nagpur and Ahmedabad. LIC Housing Finance, [...] Continue Reading »
In the current scenario, home buyers in India have little say in the interest rates on their loans. But products with flexible interest due can prove to be a big innovation in coming days as banks such as SBI, Citibank, Standard Chartered, HSBC, among others, are offering loans with flexible interest payable. The flexi or [...] Continue Reading »
State Bank of India’s (SBI) home loan portfolio grow by less than 2% in the three months ended June – its lowest sequential, or quarter-on-quarter, growth in five quarters. The portfolio stood close to Rs1,05,000 crore as of June 30, compared with Rs1,02,739 crore as of March 31, according to a senior official at the [...] Continue Reading »
A Memorandum of Understanding (MoU) has been signed between Bihar government and the State Bank of India to provide home loan to state government employees at cheaper rates. As per the MoU, the government being the guarantor would deduct the EMI from the loan beneficiary’s salary if he/she is in default on the loan. This [...] Continue Reading »
The State Bank of India Chairman said that the bank is not planning to reduce the lending rate immediately. As the base rate of interest of SBI is lowest in the capital market, they are not interested in reduction of home loan interest. The SBI is also not planning to reduce the deposit rates. According [...] Continue Reading »
An initiative taken by State Bank of India (SBI) is a ray of hope for home buyers in this era of highs! SBI has cut procession fees by half on home loans making it generous enough for the buyers. The new charges launched has been made effective from January 11, 2012. The bank has thought [...] Continue Reading »
The home loan sales have grown down drastically in India. India’s top home loan lender State Bank of India (SBI) has witnessed major drop down by 14 percent in home loan sales. From a year ago, around Rs 1,000 crore has been paused from home sales in the first half of the year. However, [...] Continue Reading »
Teaser loans are offered to ease a a borrower’s tension but nobody knows what is in store for future! A time being relief can be obtained by availing loans under teaser loan scheme. State Bank of India (SBI) had provided home loans based on teaser rate scheme three years ago. A home buyer had to [...] Continue Reading »
