Press Trust of India / Mumbai Aug 07, 2009, 17:16 IST
India's largest bank, State Bank of India, today said that it was launching a three-month long home loan campaign at attractive interest rates and zero processing fee to facilitate home buyers during the forthcoming festival season.
Christened SBI My Home Campaign, it will be launched tomorrow, a press release issued here said.
The public sector lender said that one could borrow up to Rs 5-lakh under the SBI Hi-Five Home loan at 8 per cent interest (fixed) for five-years.
Thereafter, the customer has an option to choose between floating rate of 2.75 per cent below the State Bank Advance Rate (SBAR) or a fixed rate of 1.25 per cent below SBAR for a further loan term of five-years, the release said.
For those needing loans up to Rs 50-lakh, there is the SBI Easy Home Loan, where interest is fixed at 8 per cent during the first year and 8.5 per cent per annum during the second and third year.
After three-years, the customer can choose between a floating rate at 2.75 per cent below SBAR or a fixed rate at 1.25 per cent below SBAR.
Customers can further consolidate the gains of lower interest rates by availing SBI's Maxgain overdraft facility, the release said.
hello sir,
i am raja from chennai. i am having my account in sbi porur branch for more than two years.my transaction will be good.now i need a help from u.i am not employed.my native is virudachalam near 5 kms village name erumanoor is in cuddalore district.i have construted a new home .it was completed on jan 2009.now i am in position to get loan for that home.what i have to do? and what are all documents that u needed.weather i can get loan as early as possible because it comes under rural area.pls do favour for me.my parents are former we are having land and house on my mother name.using the property i need loan sir.
thanks
with warm regards
s.raja
9941543113.
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