November 4, 2021
  • November 4, 2021

Great update from the State Bank of India; Details here

By on September 30, 2021 0

New Delhi: If you are looking to buy a car during this festive season, the State Bank of India (SBI) has some exclusive deals. The public sector lender has asked its clients to “stay tuned” as they will provide more details on this.Also Read – Tokyo Olympics Bronze Medalist Rupinder Pal Singh Retires From International Hockey

“The end of the year celebrations bring happiness to the house. Get exclusive offers on the car of your dreams, ”tweeted SBI. “This holiday season, we have something special for you! Stay tuned for great deals on your favorite cars, ”the bank said. Also Read – COVID-19: Delhi Government School Teachers, Staff Should Be Treated As On Leave, If Not Vaccinated By THIS date

Earlier in September, the SBI launched home loans tied to the 6.70% credit rating, regardless of the amount. Read also – Reopening of the Goa school: physical sessions for grades 9 to 12 should resume before Diwali

Before the festive offer, a borrower with a loan greater than Rs 75 lakh had to pay an interest rate of 7.15%. “With the introduction of festive offers, a borrower can now qualify for a home loan for any amount at a rate as low as 6.70%. “The offer results in a saving of 45 basis points, which translates into a huge interest savings of over Rs 8 lakh, for a loan of Rs 75 lakh with a term of 30 years,” said SBI, according to the IANS report.

In addition, the SBI has removed the distinction between a salaried borrower and a non-salaried borrower. “From now on, no interest premium linked to occupancy is charged to potential borrowers of mortgage loans. This would lead to a new interest saving of 15 basis points for non-salaried borrowers. Previously, the interest rate for a non-employee borrower was 15 basis points higher than that for employee borrowers, IANS reported.

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