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SBI promotional loan mela to end in November

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Sources reported at the www.propetykhazana.com says that State Bank of India is not extending its 8.5% housing loan plan which is the cheapest one in the country after November 8th. SBI has launched its ‘Happy Home’ loan plan which permitted the borrower to freeze the 8.5% interest rate for a year in February. In August, bank had launched one more housing loan plan under a ‘My Home’ campaign in which it gave loans up to Rs. 5.5 Lakhs for a period up to 9-10 years at 8.5% per year fixed rate in the first 5 years among other offers. www.propertykhazana.com sources reports that, under My Home Campaign the bank was lending housing loans in three sectors – SBI Hi-Five Home Loan, SBI Easy Home Loan and SBI Advantage Home Loan.
As per to the sources saying at the www.propertykhazana.com, Under SBI Hi-Five Home Loan it offered loans up to Rs. 5.5 Lakhs for a period up to 10 years at an 8.5% and from 61st month the rate was in floating one, at an interest rate of 3% below the State Bank Advance Rate (SBAR) in floating and 2% below SBAR fixed ones. In SBI Easy Home Loan, it was Rs. 55 Lakhs for a period of 25 years under 8.5% in the first year and at 2nd and 3rd year it was 9%, after three years the rate will be 3% below SBAR for floating and 2% below SBAR for fixed ones with a retune frequency of 5 years. In SBI Advantage Home Loan was up to Rs. 55 Lakhs for a period of 25 years, interest rate at 8.5% in the first year and 9.5% in the 2nd & 3rd year and from the 4th year the rate will be 2% below SBAR for floating and 1% below SBAR for fixed rate with retune frequency of 5 years. For further and other details on real estate market logon to www.propertykhazana.com.
Source: NBTVLIVE

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