Friday, August 13, 2010

SBI Home Loans

State Bank of India(SBI) is India's largest nationalize bank with its huge network of branches. SBI is considered as a most preferred home loan provider in housing finance sector. It offers home loan with attractive rates that suits to every borrower.

SBI offers home loan for different purposes-to purchase new house/flat, to construct new house, to repair/renovation/alteration/extension of an existing house/flat, to purchase land, etc. It also finances to purchase the household things like furniture and consumer durables.

SBI also offers range of home loan schemes. They are as follows:
  • SBI Easy Home Loan
  • SBI Advantage Home Loan
  • SBI Happy Home Loan
  • SBI Life Style Loan
  • SBI Home Plus
  • SBI Home Line
  • SBI Green Home Loan
SBI Home Loan Features:
  • Lowest interest rates
  • Interest rate charged on the daily reducing balance method
  • Repayment period is up to 70 years of age.
  • Takeover of an existing loan from other bank/housing finance companies.
  • Option to avail home loan as a Term Loan or Overdraft facility to save more on interest.
  • Complimentary international ATM-Debit Card
  • Complimentary SBI Classic and International Credit Card with waiver of joining and first years fees.
  • Free personal accident insurance cover
  • Optional Group Insurance from SBI Life
  • Option to avail loan at the place of employment or at the place of construction.
  • Option to club income of borrowers spouse and children to compute loan eligibility amount.
SBI Bank also gives an option to apply for home loan online itself. You have to visit the SBI website and fill up their home loan online application form. Thereafter, submitting photographs with important documents are very important. The documentation includes identity proof, residential proof, income proof, bank statement,etc.

Saturday, July 31, 2010

State Bank of India Ezee Scheme For Car Loans

Do you have a car of your own? Are you still commuting because of the high car amortization? Well don’t worry there is now an easy and a more affordable way of getting your car. It is through the State Bank of India Ezee scheme for car loans.

For the millions of Indians who dream of buying a car, State Bank of India’s (SBI) new car loan scheme called ‘State Bank of India Ezee’ comes as good news. This will make your dream a reality.

Thanks to the innovations of the experts behind State Bank of India’s car loans. State Bank of India has finally come up with the car loan scheme for financing new cars. State Bank of India Ezee has been available since July 1 and will be available at interest as low as eight per cent for the first year.

Monday, July 5, 2010

Information on State Bank of India Loans

At present there are lots of people online who were searching for information on State Bank of India Loans or SBI loans, If you are one among them then you should go to sbiloans.co.in,

By going to sbiloans.co.in you can find lots of unique information on various types of SBI or State Bank of India loans, If you guys know about this earlier the do share with us by commenting below.


Wednesday, June 16, 2010

Why Most People Apply for State Bank of India Loans

Most indian people apply for state bank of india loans because state bank of india is offering various types of loans very quicly with less documentation in simple process.

The State Bank is lending all the types of loans within 2 to 6 days thats why most people are showing interest in applying state bank of india loans.

Tuesday, June 15, 2010

State Bank of India is No 1 Home Loan Lender

Recently we have conducted an online survey, In that survey most people said that state bank of india is lending home loans very quickly than the other banks in india.

The people have also said that state bank of india is a No 1 home loan lender. After the state bank of india HDFC Bank and ICICI Bank stood topper in home loan lending.

Sunday, June 6, 2010

State Bank of India Hikes Short Term Corporate Loans

The biggest lender of the country, State Bank of India has hiked interest rates on short term corporate loans by 25-50 basis points. O P Bhatt, Chairman of SBI said, “With surplus liquidity gradually disappearing from the system, we have re-priced certain segments of our short-term corporate loans by 0.25-0.50 bps upwards.” But he said, it is quite unlikely to hike the deposit rates immediately. The bank anticipates liquidity to continue in the economy.

Bhatt said, “We have got requests and demands for that kind of money. At the maximum we will lend Rs 18,000 crore. Having said that, we are still having a surplus liquidity of Rs 26,000″.

Union Bank of India CMD, M V Nair has said that the bank will be spending Rs. 2000 crore for 3G auctions. He said, “Liquidity will not be impacted with the money flowing out as we already sitting on adequate liquidity”.

Talking about bad loans, Bhatt said that NPAs of the bank have fallen over the last few years. The bank had posted a fall in net profits in the Q4 of the earlier fiscal due to rise in NPAs. He said, “Usually in April there is always a negative growth. So it is too early to say if it is because of the slack season or if there is more to it,”.

Saturday, June 5, 2010

State Bank of India to Hike Loan Limit by 10 Times

State Bank of India will shortly be hiking the loan limit to people purchasing land to construct a house by 10 times. This move by the banking giant is meant to raise its grasp on the home loan segment. According to the proposal signed by the bank, it would lend Rs. 10 crore to people for purchasing land. Previously the limit for the same was Rs. 1 crore, according to a top SBI official.

A top SBI official said, “A customer will also be eligible to avail another housing loan for other housing-related construction on that plot, enjoying the benefit of running both the loans concurrently”. But the bank has fixed the margin limit at around 35% for loans exceeding Rs. 1 crore. For loans not exceeding Rs. 75 lakh, the margin limit has been fixed at 20%.

The official added, “We have a liquidity of over Rs 40,000 crore; schemes such as this will help us achieve our credit growth targets”. But the bank will follow proper diligence, while raising the credit offtake in the home loan sector. The official said, “To minimise fraud risk, two title search reports from different lawyers will be obtained before sanctioning the loan”.

Saturday, May 22, 2010

State Bank of India Home Loan Rate

The increased lending rate by RBI has made the banks to hike the interest rates to the consumers, this has made it difficult for consumers to plan their investments and reckon the profitability out of their property investments.

State Bank of India has raised the loan interest to 11-12 percent for floating rate and additional 2 percent i.e. 13-14 percent for fixed rate. This used to be 6.75 – 9.5 near around 2 years back. With property rates increasing 300% a year and now interest rates nearly doubling the actual rates has made home loans not so attractive for consumers with average income levels.


Monday, May 3, 2010

SBI Increases Interest Rates on Home Loan

State Bank of India (SBI), the largest bank in India and one of the leading players in the housing finance market, has raised interest rates on home loans. Although the bank will continue with its 8% teaser rate — which the SBI had introduced more than a year ago — for the first year, it has increased rates for the subsequent years, effective April 1. The hike in home loan rates by SBI was triggered by the recent increase in its cost of funds.

Till March 31, SBI had two schemes — The Easy Home Loan (up to Rs 50 lakh) and Advantage Home Loan (above Rs 50 lakh). ‘‘From April 1, both the schemes have been merged and extended for a month,’’ an SBI spokesperson confirmed to TOI. ‘‘The rates applicable for new loans sourced from April 1 till April 30 are 8% for the first year, 9% for the second and third years and floating rate at 1.75% below SBAR (SBI’s equivalent of prime lending rate, or PLR) thereafter,’’ the spokesperson added. So in effect, the home loan rates for the second and the third years have gone up by 50 basis points (100 basis points=1%), from 8.5% earlier to 9% now. While fourth year onwards, at the current structure, the interest rate will be at 10% per annum, since currently SBAR is at 11.75%. Earlier, from the fourth year onward, the floating rate was at 2.75% below the SBAR and the effective rate was 9%.

Under the new rate structure (assuming a 10% rate from the fourth year), on a 20-year loan of Rs 30 lakh, a customer would have to shell out about Rs 3.9 lakh over the tenor of the loan. Thus the effective rate that the customer would be paying over the 20-year period is 9.5%. Explaining the rationale for hiking rates on home loans, the SBI spokesperson said it mainly reflected ‘‘the increased cost of funds from April 1 stemming from the new methodology for paying interest in savings bank accounts on daily balances.’’ In April 2009, Reserve Bank of India (RBI) had mandated all the banks in India to move to a new methodology of calculating interest rates on savings bank accounts that would add interest on a daily basis. This is a significant departure from the earlier practice of calculating interest rate on minimum balance after the tenth of every month.

For sometime now, with the annual rate of food inflation hovering around 20% level and the yields on benchmark 10-year government securities around the 8% mark, bankers and home finance veterans were talking about the possibility of a hike in interest rate in the economy. And now with SBI, the country’s largest bank, hiking housing loan rates, industry players are almost sure that interest rates have bottomed out in the current cycle. Lately a number of banks and financial institutions, including the country’s home loan pioneer HDFC, have withdrawn their home loan products at 8% or at a slightly lower rates, and are moving to a more sustainable interest rate structure.

Sunday, May 2, 2010

Sbi Offering Low Loan Interest Rate Home Loans

Many people are now investing in properties and are buying new home. The cheap and easy SBI housing loans makes it possible for them to get low SBI home loan interest rate, which enables them to invest in properties. People can use the SBI home loan EMI calculator and then apply for the SBI housing loans, which may be available to them.

SBI has introduced very low SBI home loan interest rate, which can easily be paid by the customer. The loan applicant can apply for different types of SBI housing loans and choose the SBI home loan interest rate that is suitable for him. He can take the help of the SBI home loan EMI calculator that can help him determine the percentage of loan he can apply for.

The SBI home loan EMI calculator is the perfect way to know what kind of SBI housing loans you should apply for. It also allows the loan applicant to calculate the SBI home loan interest rate and know the amount of EMI he would have to pay on the loan. You can just fill in your capital amount and saving, which would help you get the loan amount you can apply for. They can also mention whether they want to apply for fixed SBI home loan interest rate or for the one with floating interest rate for SBI housing loans. This can help you arrive at the loan amount that may be granted to you. Once you get the loan amount through the SBI home loan EMI calculator, you can proceed ahead and fill in the SBI housing loans application.

There are different types of schemes available on SBI housing loans. One can get the information about them online and thus make their decision. This is one of the best ways to know about the home loans offered by the bank. You can use the SBI home loan EMI calculator as well, which is available on the site and calculate your loan amount as well.

People now have the ease to download and fill the SBI housing loans application online. They can visit sbi-home-loan.com to do the same. The site has information about the SBI home loan interest rate and about the ongoing schemes and offers as well. Thus, you can know everything and anything about home loans and apply for the same.

Saturday, May 1, 2010

State Bank of India (SBI) Hikes Rates on Home Loans

State Bank of India (SBI), the largest bank in India and one of the leading players in the housing finance market, has raised interest rates on home loans. Although the bank will continue with its 8 per cent teaser rate — which the SBI had introduced more than a year ago — for the first year, it has increased rates for the subsequent years, effective April 1. The hike in home loan rates by SBI was triggered by the recent increase in its cost of funds.

Till March 31, SBI had two schemes — The Easy Home Loan (up to Rs 50 lakh) and Advantage Home Loan (above Rs 50 lakh). ‘‘From April 1, both the schemes have been merged and extended for a month,” an SBI spokesperson said. ‘‘The rates applicable for new loans sourced from April 1 till April 30 are 8 per cent for the first year, 9 per cent for the second and third years and floating rate at 1.75 per cent below SBAR (SBI’s equivalent of prime lending rate, or PLR) thereafter,” the spokesperson added.

So in effect, the home loan rates for the second and the third years have gone up by 50 basis points (100 basis points=1 per cent), from 8.5 per cent earlier to 9 per cent now. While fourth year onwards, at the current structure, the interest rate will be at 10 per cent per annum, since currently SBAR is at 11.75 per cent. Earlier, from the fourth year onward, the floating rate was at 2.75 per cent below the SBAR and the effective rate was 9 per cent.

Under the new rate structure (assuming a 10 per cent rate from the fourth year), on a 20-year loan of Rs 30 lakh, a customer would have to shell out about Rs 3.9 lakh over the tenor of the loan. Thus the effective rate that the customer would be paying over the 20-year period is 9.5 per cent.

Explaining the rationale for hiking rates on home loans, the SBI spokesperson said it mainly reflected ‘‘the increased cost of funds from April 1 stemming from the new methodology for paying interest in savings bank accounts on daily balances.” In April 2009, Reserve Bank of India (RBI) had mandated all the banks in India to move to a new methodology of calculating interest rates on savings bank accounts that would add interest on a daily basis. This is a significant departure from the earlier practice of calculating interest rate on minimum balance after the tenth of every month.

For sometime now, with the annual rate of food inflation hovering around 20 per cent level and the yields on benchmark 10-year government securities around the 8 per cent mark, bankers and home finance veterans were talking about the possibility of a hike in interest rate in the economy. And now with SBI, the country’s largest bank, hiking housing loan rates, industry players are almost sure that interest rates have bottomed out in the current cycle.

Lately a number of banks and financial institutions, including the country’s home loan pioneer HDFC, have withdrawn their home loan products at 8 per cent or at a slightly lower rates, and are moving to a more sustainable interest rate structure.

Wednesday, April 14, 2010

State Bank of India Business Loans

State Bank of India or SBI is the largest nationalised bank in india which is offering business loans at very low interest rates. The State Bank of India is providing business loans upto 50 Lakhs for the Indian residents and NRI's.

The State Bank of India loans are given to start a small business or for extending an existing business. Both the employed and self-employed persons who earning an income of atlest1.50 lakh Rupess per annum are eligible to get Business loan from State Bank of India.

To Apply State Bank of India business loans the applicants needs to go to the nearest State Bank of India Branch office, There at the SBI branch office the applicants can fill and submit the business loan application in a hassle free way.

The Applicants can also apply the State Bank of India business loans online at State Bank of India official website by filling a siomple form. The SBI business loan application will be approved and loan amount will be granted within 3 days if the applicant submits all the required documents correctly while applying. The SBI business loan borrowers can repay the loan amount to the state bank of india in 7 years.

Note: This is Guest psot written by the admin of loansbuzz.com

Friday, March 26, 2010

State Bank of India Raises Auto, Home Loans Rates

State Bank of India, India's No. 1 lender, has raised auto loans by 25-50 basis points for different tenors and segments, effective from March 5, a spokesman said on Thursday. The State Bank of India has also discontinued its special home loan rate of 8.25 percent for two years, the spokesman said without elaborating.

The State Bank of India will currently charge 8.75 percent for loans up to 3 million rupees, 9 percent for loans of 3 million to 5 million rupees and 9.5 percent for loans over 5 million rupees.

Thursday, March 25, 2010

Bad Credit Loans From State Bank of India

I am person who was with very bad credit history, I was now in financial cricis. Can i get loans from state bank of india with my bad credit. Do state bank of india gives loan for the people who are having bad credit, If yes then how to apply them.

I heared that state bank of india charges very high interest rates on loans. Is it true, If not whats the interest rate on personal loans from state bank of india.

Tuesday, March 23, 2010

Who are eligible to apply state bank of india loans

All the employed and self employed persons who are aged above 21 years and having stable monthly income are eligible to apply state bank of india loans.

Both Indian residents and NRI's are eligible to apply loans from state bank of india. Applicants are eligible to apply all the types of state bank of india loans if earns a minium of 2.5 lakh rupees per annum.

Thursday, March 18, 2010

Apply State Bank of India Personal Loans

To apply state bank of india personal loans there are two simple ways for the applicants from the bank.

1) In the first way the applicants must goto the nearest state bank of india branch office to apply the personal loan.

2) In the second way the applicants can apply the personal loan online very simply by visiting the state bank of india official website(www.statebankofindia.com).

Wednesday, March 17, 2010

I Need State Bank of India Personal loan

I am ravi from india, I was need of money right now for some personal needs. One of my friend told that state bank of india offers personal loans at very low interest rates without any security.

Is state bank of india really providing personal loans without security. If yes then where can i apply the personal loan from state bank of india.

Monday, March 15, 2010

Can an NRI get loans from State Bank of India

I am an NRI who was in need of a loan from state bank of india. I heard a news that State bank of India stopped giving NRI loans, Is it a real news or a fake one. If that news was fake then can i get get state bank of india loans.

Friday, March 12, 2010

State Bank of India Two Wheeler Loans

SBI (or) State Bank of India Two Wheeler Loans provide you bank finance of up to 85% of the on road cost of the bike (motorcycle), mopeds, scooterettes (scooty as it is commonly called) or scooter you want to purchase. State Bank of India Two Wheeler Loans are available in a wide array of options, State Bank of India Two Wheeler Loan suits all your finance requirements with easy repayment options and loan tenure of 6 - 36 months.

State Bank of India offers loans for 2-wheelers from leading two-wheeler manufacturing companies like hero Honda, Bajaj, TVS, HMSI, Hero Motors, Suzuki, Yamaha, Kinetic Honda and Royal Enfield. In case the applicant does not fulfill the required norms individually, he can still avail State Bank of India Two Wheeler finance by making any blood relative your co-applicant.

Wednesday, March 10, 2010

State Bank of India New Car Loans

State Bank of India gives maximum loan of 90% of the invoice value on new cars. The minimum loan amount is Rs 50000. The loan tenure varies from 12 to 84 months.

The State Bank of India Car loan borrowers can pre-pay the loan amount any time after 6 months of availing of the loan by paying a small prepayment fee on the outstanding loan amount.

Tuesday, March 9, 2010

State Bank of India Car Loan Features

State Bank of India Car Loan features many benfits to the borrowers. The SBI Car loan Applicant can borrow up to 80% of the value of any car manufactured in India. Flexible repayment options range from 12 to 60 months.

The SBI Car loan Applicant can borrow the amount up to three times of annual salary (for salaried professionals) and six times the annual income (for self employed professionals).

State Bank of India Car Loan Applicant can also get additional amount on existing loans. Existing State Bank of India customers get preference in getting bank approval for Car loans.

Sunday, March 7, 2010

State Bank of India Personal loans

State Bank of India Personal Loans are totally flexible.State Bank of India Personal Loans are available for issues like purchase of consumer durables, assets, emergency medical needs, travel, home improvements, holidays, tax saving investments and higher education requirements. The novelty of the scheme is that no securities need to be pledged here.

State Bank of India Personal Loans come with minimal formalities. There are no hidden costs. The interest rates are attractive. Customers need to pay a one time processing fee for it, which is non-refundable in nature.

Customers can also avail of "Balance Transfer Program" from State Bank of India under the personal loan scheme.

Salaried individuals employed in a company's management cadre and aged between 25 years to 70 years can apply for State Bank of India Personal Loans. Self employed professionals like Doctors, Architects and CA's are also eligible for State Bank of India Personal Loans.

However, all State Bank of India Personal Loans are subject to approval by the bank. Based on the Bank's discretion the loan amount here normally varies from Rs. 25,000 to Rs. 10,00,000.

Apart from those mentioned in this article a host of other terms and conditions govern the different categories of loan from State Bank of India.

Sunday, February 28, 2010

State Bank of India Education Loans

State Bank of India offers education loans for the students who are willing to pursue their higher studies in India and abroad. Being the largest Bank, State Bank of India provides education Loans at very attractive interest rates to the students.

There are plenty of courses considered eligible for State Bank of India education loans and the banks also offers easy repayment options to make the loan scheme more attractive.

Education loan of State Bank of India is sanctioned to those candidates, who are Indian Nationals. Students can apply the student loan if they get admission to a professional or technical program through selection procedure or entrance test. The education laon applicant will also be considered eligible even if he/she gets admission to a foreign institute.

The maximum amount of education loan offered by State Bank of India for studies in India is Rs.10 lacs and for studies abroad it is Rs. 20 lacs. One can go to the nearest State Bank of India branch office to apply the loan or can apply the education loan at State Bank of India's official website.

This is a Guest post from educational--loans.blogspot.com

Monday, February 15, 2010

State Bank of India Home loan

State Bank of India provides home loan to its borrowers for constructing a new home, buying a ready made house or flat, purchasing a plot for constructing a house, refinancing the existing home loans borrowed by the customer from other banks or finance companies. Some of the benefits provided by State Bank of India in home loan have been listed below -
  • The EMI for housing loan is charged on the reducing balance on a daily basis.
  • The home loan application procedure is simple.
  • State Bank of India provides both technical and legal assistance.
  • The interest rate of SBI home loan is quite flexible.
  • State Bank of India also offers customer service at doorstep.
State Bank of India Home loan provides loans up to 90% of the project cost to its borrowers on the basis of the individual's age, income range, residential status, financial stability and collaterals produced against the housing loan.

Residents are liable to pay off the State Bank of India Home loan within 25 years whereas the non-residents are allowed a maximum period of 15 years for repayment of the home loan.

State Bank of India does not facilitate any loan for properties which include legal disputations nor does it accept such property as security mortgage. State Bank of India also considers age, income range, financial stability and the number of dependents of the borrower while sanctioning the loan.

State Bank of India offers home loans at both fixed and floating rates of interest. State Bank of India offering home loans to self-employed individuals or business persons or even individuals who are running a business of at least 5 years.

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