SBI Easy Loan scheme is one of the best home loan schemes available to people who want to buy homes in India currently. This is because SBI Home Loan provides promotional home loan interest rates for the first three years of your home loan.
First Year: SBI charges you an interest rate of 8% per annum for the first year for loans up to 30 lacs.
Next Two Years: SBI charges you an interest rate of 9% per annum for the next two years for loans up to 30 lacs.
After third year: After the third year, — you can take a floating or fixed rate. Floating rate will be 2% less than SBAR prevailing at that time. Currently, the SBAR is 12.25% per annum.
If you take a fixed rate, then it will have an interest rate of 1% less than the SBAR prevailing at that time, and shall have a reset frequency of 5 years.
If you are taking a SBI home loan that is greater than 30 lacs, — then you will still pay 8% per annum the first year, but the interest rate for the next two years will be 9.5% per annum.
After the third year, — you can decide whether you want a fixed or floating rate. A floating rate will be 1% below the prevailing SBAR, and a fixed rate will be 0.50% below the SBAR (with a reset frequency of 5 years).
This is one of the better rates available to Indian home loan seekers right now. I couldn’t find a way to show you an easy way of comparing this rate to a flat rate, and see the savings. If anyone knows a way to do this, please let me know.
Photo Credit: TM View
GOOD DAY!
We are world best leading funding company with quality services. We are 25 years today, established since 1986, under the supreme supervision of Mr. Salah M.S.Al Maousherji, with heaquarter’s in dubai, and branch head-quarter’s based in United Kingdom and Malaysia.
We offer fund to interested Companies, Individuals, Co-operate Bodies Seeking Capital for Investment and collective individuals globally who are interested in starting up business, or willing to invest into real estate business.
Our specialities are based on the afore-mentioned above, to larger companies across the world, whose major aims are on investments in different continents of the world.
We, offer fund at less Discount rate/Interest rates, to our foreign and local investors on every amount applied for.
Our major services include the followings:
– fund lending with moderate discount %.
– Our services are guaranteed with safety and insurance. etc!
For any further information, please send your mail to [email protected]
We look forward to offering you our best of serivces.
Regards,
Mr. Tarek Jawad Al Sakka
Marketing Director
I WANT TO KNOW THE CHANGES IN SBI SBAR FROM THE PERIOD 01-01-2010 TO TODAY. CAN YOU HELP ME BY SENDING THE SAME TH EMAIL.
OR ADVISE THE SITE FROM WHERE I COULS GET THE ABOVE DETAILS.
REGARDS
This look like good Information SBI Home Loan, but I shall have to come back to gain most benefit.
I tried to use your trackback URL but it didn’t seem to work.
It is a nice, clean site.
thanks.
Fascinating insight! How developed is the bond market in India, and what is the longest duration of a fixed loan a consumer can take out?