Thursday, 3 November 2016

SBI cuts home loans rate by 0.15% -The Total Investment & Insurance Solutions

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3 November 2016

Country's largest lender, the State Bank of India (SBI) on Wednesday slashed, by 0.15 percent, interest rates for its home loans up to Rs 75 lakh effective from November 1. The Total Investment & Insurance Solutions

On a home loan of Rs 50 lakh, reduction in lending rate will allow a home buyer to save Rs542 per month and approximately Rs 2 lakh during the loan tenure of 30 years, the lender said. The Total Investment & Insurance Solutions

"Value of the savings on EMI of Rs542 per month, if invested in a recurring deposit, will be approximately Rs6 lakh at the end of the loan tenure," the bank said. The Total Investment & Insurance Solutions


The lender said the customer can also avail of processing fee waiver during festival times.The Total Investment & Insurance Solutions

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