Posts Tagged ‘SBI’

SBI Loan Utsav 2010 Starts today

Friday, February 19th, 2010

State bank of India one of leading banks in India will organize a three-day ‘SBI Loan Utsav’. The SBI loan utsav 2010 starts on Friday 19,2010 on 4 pm at its local head office campus on St Mark’s Road.

While announcing that the bank will offer spot loans at an interest rate of 8 per cent, it said that customers can visit the stalls from 11 am to 7 pm on Saturday and Sunday.  Over 40 top builders/developers of Bangalore and major auto dealers are participating. On Friday, it is open between 4 pm and 7 pm.

The builders will showcase more than 25,000 apartments in SBI loan utsav 2010. SBI is partnering with SBI Card, SBI Life and SBI Mutual Fund in organizing the Utsav. SBI loan utsav is organized at its local head office campus on St Mark’s Road in association with The Times of India.

Customers can visit the stalls on three days to choose from over 25,000 apartments. Major auto dealers  will present the latest offerings from their stable.They can also select their favorite cars from a wide range available at the exposition.

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SBI extends its special home loan scheme till 31st March, 2010

Tuesday, November 10th, 2009

The country’s largest lender State Bank of India on Friday decided to extend its 8 per cent home loan scheme till March 31, 2010.The decision of the bank would help small home loan receivers.State Bank of India decided to extend its 8 per cent home loan scheme just a day before it was due to expire.

SBI, which offer the special plan under `My Home Campaign` is providing 8 per cent fixed rate of interest for five years for loans amounting Rs 5 lakh, having an upper limit of 10 years. Apart from latest development, SBI is also providing SBI Max Gain, under which it provides home loan as overdraft with saving interest option. Moreover, SBI is also providing SBI Advantage Home Loan carrying a fixed rate of interest of 8% in the initial year and 9% during second and third years.

In the past few days banks like Axis Bank came out with a special 8 per cent scheme for the first year and Bank of Rajasthan too dropped home loan rates to 7.5 per cent w.e.f. from November 9 and Punjab National Bank extended its 8.5 per cent scheme till December 31. SBI’s aggression may also force bigger private sector players to re-look at their strategy.

Links to Refer:

www.commonfloor.com/articles/category/property-buying/home-loan

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Loans To Become Cheaper- SBI Cuts BPLR Rate By 50 Basis Points

Thursday, June 25th, 2009

The demand for loans will increase and loans to become cheaper for borrowers. SBI announced revised Benchmark Prime Lending Rate (BPLR) down by 50 basis points effective from June 29, 2009. SBI country’s largest lender slashed its BPLR to 11.75 per cent.

SBI reduced its BPLR in January 1, 2009 by 75 points and currently BPLR stands at 12.25 per cent. Decision of SBI will influence other lender to cut down their rate and home loans, car loans and other loans to become cheaper for borrowers.

SBI had reduced deposit rate by 25 points across all maturities to bring down the cost of funds. SBI rate cut comes within a fortnight of Finance Minister asking state owned banks to soften rates.

The rate of deposit for 1000 days tenure was reduced from 7.75 to 7.50 per cent, for deposit 2 years or less than 1000 days the rate was cut from 7.50 to 7.25 per cent. The rate for deposit from 1 year to less than 2 years was reduced from 7.25 to 7 per cent and the deposit for tenure of 181 days and less than one year the rate is 6.25 against 6.50 per cent.

SBI informed the Bombay Stock Exchange, BPLR was revised down 50 basis points and this will be effect from June 29. The new rate for BPLR will be 11.75 per cent against current rate of 12.25 per cent.

Reference:

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