SBI launches new term loan for repair, renovation of homes in Kerala

The bank will provide loans up to Rs 1 million at a reduced interest rat of 8.45 per cent per annum

State Bank of India has launched a new term loan for repair and renovation of homes to help those affected by the recent floods in Kerala. The bank will provide loans up to Rs 1 million at a reduced interest rate of 8.45 per cent per annum, with processing fees waived off. This special rate will apply to home-loan applicants for repair and renovation of their damaged homes.