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Indian Real Estate News
SBI extends cut-off date for its 'My Home' campaign
Source: Money Control Nov 07, 2009
State Bank of India (SBI), India's No.1 home loan provider, has decided to extend the availability of 'My Home Campaign' till 31st March 2009. Three popular products are offered under the banner of 'My Home Campaign'.

For loans upto Rs 5 lacs with a maximum tenor of 10 years, SBI Hi-Five Home Loan, carries a fixed rate of 8% for 5 years.

For loans above Rs 5 lacs and upto Rs 50 lacs, SBI Easy Home Loan, carries fixed interest rate of 8% p.a. during 1st year and 8.5% p.a. (fixed) during 2nd and 3rd year of the loan. SBI MaxGain - Home Loan as Overdraft with possibility of saving interest - immensely popular among the salaried class, may also be availed under SBI Easy Home Loan.

Customers looking for high end properties can take SBI Advantage Home Loan which carries fixed interest rate of 8% p.a. during 1st year and 9% p.a. during 2nd and 3rd year.

SBI Home Loan customers, thus, can be certain about their loan repayment obligations at low interest rates for 3 to 5 years. Option of fixed rate with a reset frequency of 5 years or floating interest rate linked to State Bank Advance Rate for the remaining loan term is available to the customers under these schemes.

These products were originally launched on 8th August 2009 for a limited period of three months. Owing to the success of the schemes in reviving interest in the residential real estate sector and to help more customers to avail the benefits, the offer has been extended till 31st March 2009.

SBI wishes to thank all its customers for the overwhelming response to its initiative of stimulating the economy.

Tag: Real Estate India, India Properties, Housing Loans, SBI Home Loans
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