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Posts Tagged ‘SBI Home Loan’

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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SBI Car loan and Home loan on the spot

Saturday, July 25th, 2009

State Bank of India will hold two days loan mela in Davangere. Loan mela will be held on Saturday and Sunday at Abhinava Renuka Mandira. The customer with relevant documents can get car loan on the spot and SBI will issue loan approval letter for loans under housing schemes. SBI will not charge any processing fee for loans in the loan mela.

During loan mela held last year, SBI had done a business totaling over Rs 7 crore and targets to achieve the business of Rs 15 crore this year. There was a special offer of car loan as well as housing loans. The customer for loan for housing will get loan approval letter at loan mela and application for car loan will be sanctioned on the spot.

SBI will accept PAN card, voter ID cards, driving license, and passport as identity proof. Proof of residence, Bank account details, Form 16, IT returns for past three years and salary certificate are essential for sanctioning your car loan or get a home loan sanctioned in the loan mela.

Reference:

SBI loan mela from today

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Spark For Rate War In Home Loan Market-SBI Cuts Home Loan Rates

Wednesday, July 1st, 2009

State Bank of India has launched new scheme which assures lowest interest rate in home loan market for first three years. SBI launched SBI easy loan and SBI Advantage home loan. SBI Easy home loan is for amount up to Rs 30 lakh and SBI Advantage home loan is for amount above Rs 30 lakh and will carry special rate of 8 per cent for first one year.

State Bank of India country’s largest lender cuts home loan rates for first three years. The loan rate will be fixed at 8 per cent for first year, in second and third year there will be increased 100 basic points to 9 per cent. Under SBI Easy loan, rate is fixed for low rate for first three years and from fourth years onwards, customers can choose either floating rate 2 per cent below the State Bank Advance Rate (SBAR) or fixed rate 1 per cent below SBAR with a five year reset. Under SBI Advantage home loan, interest rate for second and third year is fixed at 9.5 per cent. From fourth year onwards, customer can either choose floating rate 1 per cent below the SBAR or fixed rate 0.5 per cent below SBAR with a five year reset.

The special rate for home loan fixed by SBI could spark a rate war in the highly competitive home loan rate. HDFC stands second in charging lowest rate for home loan. HDFC charge 9.25 per cent for home loans up to 30 lakh and 9.75 per cent for loans above 30 lakhs. Borrowers can get best from this competition and SBI move to lower the loan rate could spark rate war with leading lenders in home loan market.

Reference:

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