State bank of india personal loan
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Rates on personal loans cut
The State Bank of India has slashed interest on personal loans by 150 basis points at 14.5 per cent per annum from 16 per cent.
SBI has also reduced the interest rates on car and two wheelers loans by one per cent at 13 per cent while it has done away with processing fee in case of the former, the bank said in a release here today added that rate cut on personal finance products was with effect from this month.Loans against mortgage of property can now be availed at 14 per cent per annum, cut by 2 per cent. Rate for loans against RBI Relief Bonds and shares & bonds have also been reduced to 12 per cent and 14.5 per cent respectively from 15 per cent, it said.Senior citizens have been offered a hefty cut of 225 basis points for loans to pensioners at 14 per cent per annum (16.25 per cent earlier).Demand loans sanctioned against the security of National Savings Certificates and Kisan Vikas Patras would now be cheaper by 3 per cent at 12 per cent. Loans against Indira Vikas Patra would now cost 13 per cent PTIPersonal Loan News in India....
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SBI lowers income limit for personal loans
As part of its efforts to boost credit offtake, the State Bank of India ( SBI) has taken a major initiative by deciding to lower the income limit of borrowers from Rs 6,000 per month to Rs 3,000 per month with immediate effect. It has already slashed rate of interest across the board by 0.25 to 0.50 per cent, said Mr R.K. Sinha, Chief General Manager, SBI, Chandigarh circle, here today.
He disclosed that the decision had been taken in view of the demand from lower and middle income groups to lower the minimum net monthly income (NMI) stipulated for availing a loan under the personal loan scheme. Earlier, the SBI was extending personal loans to individuals up to Rs 10 lakh for travelling, medical treatment, marriage and other purposes, provided they had NMI of Rs 6,000 or above. Under the amended scheme, named as festival loan scheme for public, he said, all employees of government, PSUs, profit-making public/private limited companies and institutions would be eligible. The minimum amount of loan would be Rs 5,000 and maximum Rs 50,000 or four times the NMI. It could be repaid through maximum of 12 monthly EMIs.The borrowers would be able to take loans at 13.75 per cent, without any primary security. However, they would have to offer collateral personal guarantee of the spouse or any other person. The loans would be available at all computerised and other authorised branches.SBI to hike personal loan rates by 0.75%
The country's largest lender, the State Bank of India (SBI) on Wednesday said it will shortly raise car and other personal loan rates, excluding housing and education, by an average of 0.75 per cent.
We have announced hike in benchmark prime lending rates by 75 basis points...Consequently, we will be raising rates of all (personal) loans, except for housing and education, by 75 basis points on an average, SBI MD Ashok Aggarwal told reporters on the sidelines of the launch of electronic system for excise and service taxes.He, however, clarified that some loan rates may rise by one per cent and some by 0.50 per cent, but the average would be 0.75 per cent. The interest rate hike would be announced in a few days, he added.Aggarwal's statement came amid reports that icici and kotak are increasing auto interest rates by 0.75-1 per cent this weekend. Pursuant to increase in cash reserve ratio by the reserve bank, sbi had announced 0.75 per cent in its benchmark prime lending rate to 12.25 per cent last month.Enjoy the SBI Advantage
· Low interest rates. Further, we charge interest on a daily reducing balance!!
· Low processing charges; only 1%-2% of loan amount· No hidden costs or administrative charges.· No security required %u2026%u2026which means minimal documentation%u2026something that you had always wanted.· No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan (1% of the loan amount will be charged if you repay the loan before 6 months)· Long repayment period of up to 48 months.PrintShare it! — Rate it: up down flag this hub
Comments
i wnat this personal loan from state bank.
what is the eligibilityon getting this loan
i am from indian aged 19 need 10 lakhs to start a business
htiesh says:
2 months ago
9909904522 tell me for p lone