Saturday, 14 March 2015

State Bank of India offers personal loans to their existing borrowers at housing loan rates:

MUMBAI: SBI(State Bank of India) BSE -2.21 % giving an amazing offer to its previous home loan customers. They can have personal or top-up and loans at the same rate that they paying on home loans under a fixed-period offer.

In effect, an existing SBI borrower can have a PL(personal loan) at the rate of 10.15% and provided he been paying his  homeloan EMIs on time.  For women, it is inexpensive at 10.10%. The rates implies on 0.35-0.40% point cut in the top-up loan rates which SBI been charging.  For more details about  Personal loan in Chennai

The rate depletion comes at a time when Reserve Bank of India(RBI) signalled a softer interest rate by cutting policy rates twice - both by a quarter percentage point - in 2015. A woman (homeloan) borrower can take til Rs 50 lakh at the rate of 10.10%. Guess its a nice allotment for womens.. . The tenure of the top-up loan be linked to the customer's tenure of the home loan. Range for Top-up loans between Rs 50 lakh & Rs 2 crore will cost just  10.75%. 

The rate will be 11.25% from the range between Rs 2 crore to Rs 5 crore. Analysts say
 the move will assist SBI to achieve their loan growth targets.

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