SME Times is powered by   
Search News
Just in:   • SBI's Q1FY22 net profit up 55% YoY  • Govt taking steps to push exports: Minister  • Essar expands UK aviation footprint; begins ATF supply at Cardiff Airport  • CBIC launches portal with info on customs proceedures, rules  • RBI likely to maintain rates, accommodative stance  
Last updated: 01 Aug, 2016  

SBI Launches Home Loans for Govt. and Defence Employees

NewsVoir | 01 Aug, 2016
Continuing with the long standing tradition of introducing innovative Home Loan products, State Bank of India has introduced two new Home Loan products ‘SBI Privilege Home Loan’ for Government Employees and ‘SBI Shaurya Home Loan’ for Defence Personnel. Under the new schemes, employees of Central / State Governments, Defence Forces, PSBs, PSUs of Central Government and other individual(s) with pensionable service will be offered schemes tailored to their specific needs which help them to purchase a spacious / luxurious home without stretching their post-retirement finances. The key features, common across the twin schemes, are as follows:

 

    Reduced burden of servicing EMIs under the new schemes as lower EMIs would need to be serviced during the post-retirement term.

    Flexibility of selecting a longer loan term as extended repayment up to the age of 75 years is available under the scheme. Under existing Home Loan schemes, repayment is normally available up to the age of 70 years only.

    Benefit of lower interest rate as a concession of 5 bps over the Home Loan Card Interest Rate is available wherever check-off facility is extended by the Government under tie-up arrangement with the Bank.

    Full waiver of Processing Fee.

    Option for customers of other Banks / FIs to switchover their Home Loan outstanding balance to State Bank of India.

 

The launch of ‘SBI Privilege Home Loan’ and ‘SBI Shaurya Home Loan’ products is timed with the notification of 7th Pay Commission recommendations by the Government. Surplus income can thus be utilized by Government Employees and Defence Personnel towards purchase of new / better house.

 

Further details about the products are available on our website www.sbi.co.in.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 05 Aug, 2021
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» No revision in fuel prices for 13th day(1)
» Microsoft to invest in OYO before its potential IPO(1)
» US rights activist helped vaccine allotment to India: Vijay Prabhakar(1)
» A refreshingly candid perspective on the Tata empire: Mircea Raianu(1)
» Profit bookings, global cues subdue equity indices(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter