Topic: Should I take SBI home loan?

need your thoughts on it

This message was edited 1 time. Last update was at 05/03/2010 13:11:35

State Bank of India is one of the largest banks in the world, and is the largest bank in India according to number of branches and customers. It is partly owned by the government of India.

SBI has also been an active lender in the housing market for middle class families who want access to funding to fulfill their dreams of owning a home.

As a govt owned entity, SBI is a public sector bank, and the largest PSU bank. Its reach is bigger and more dense than any other bank in India. The home loan rates that SBI offers are very competitive. Currently, as of Feb 2010, SBI is offering the most competitive rates of interest for home loans. Depending upon the size of the loan, the rates start at around 8.25% for the first year and then adjust upwards to 8.50% in the second year and then higher in the third year. After this period, the rate will be derived from the bank’s internal benchmark rates. Now that the RBI has announced the shift to a base rate that every bank will need to price its loans from, there will be more clarity on what the rate will adjust to when the rate resets in the third year.

If you already have a bank account and relationship with SBI, then this might be a good source of a home loan for you. You might get the best price from them, although the service might not be as good as the service from some other lenders, especially the private sector lenders like HDFC.

For Home Loan Call : Sukesh 9953011221

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