NEW DELHI: State Bank of India has lowered its lending rate for home loans to 9.45 per cent and further to 9.4 per cent for women customers following implementation of a new interest rate calculation regime mandated by RBI.
The lending rates of other banks may also fall soon with the marginal cost of funds based lending rate (MCLR) system coming into force with effect from April 1.
As per the information available on SBI website, the earlier home loan rate 9.5 per cent for women borrowers and 9.55 per cent for others.
Similarly, car loan would be available at 0.60 per cent above 1 year MCLR. Thus, it would be 9.80 per cent, the statement said.
I want a small loan (like 9000 crores).....How can I get it?
You have to be an industrialist who can give crore of Rs bribes to bank officials
Born In January
Contact Modiji..He will arrange escape route too.
Why other banks are not so prompt?
Good news for home buyers
This cut is still not attractive for home buyers.
Is it applicable to existing customers also or only to the new applicants ??
Acche Din for middle.class.home buyers. Interest rate are at 4 -5 years low now
Home Loans and student loans for higher education should be at special low rate of interest
home loan interest should be no more than 5 pct.
this is not a business loan. the risk is much much smaller as the collateral is right there
Getting loan from SBI is like HELL, tonnes of documentation ONLY for common man
High profile business men escape very easily, that's the speciality of "Banker to every indian", it should be "Banker to ONLY indians, who wants to buy properties in LONDON"
Senior citizens also may be given home loans for buying retirement homes
So now everyone can buy 3 crores flats whether they can afford it or not is a different question. Western world can have low interest rates because of social security we cannot and should not do that in India as we will be finished.