SME Times is powered by   
Search News
Just in:   • Equity indices break two-day losing streak on value buying  • IMF urges Sri Lanka to tighten monetary policy  • Global semiconductor sales to reach $676 bn this year: Gartner  • Tinna Rubber hits upper circuit, investors accumulate 900% returns in year  • Availability of jobs in Japan improves for 1st time in 3 yrs 
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

Print the Page Add to Favorite
Share this on :

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

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 27 Apr, 2022
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter