With the
festival season round the corner, Indian banks have started cutting interest
rates to attract customers.
The SBH (State Bank of Hyderabad) has launched a festive campaign, which runs
from September 17 to December 31, 2012 for its housing loan schemes.
The SBH has slashed interest rates by up to 0.50% on home loan segment.
Further, there is a 50% concession on charges for housing loans, the SBH said in a press release.
SBH has about 1,485 branches across the country, where the offer will be valid.
In the home loan scheme, interest rate for loans up to Rs. 30 lakh has been slashed from 10.75% per annum to 10.50%, and for loans above Rs. 30 lakh, the rate is down from 11% to 10.50%. The rate of interest is ‘floating’ and applicable for all tenors.
Now, for every Rs. 1 lakh, the customer has to pay an EMI (Equated Monthly Instalment) of Rs. 915 for a 30 year loan, as against Rs. 934 so far.
The SBH has slashed interest rates by up to 0.50% on home loan segment.
Further, there is a 50% concession on charges for housing loans, the SBH said in a press release.
SBH has about 1,485 branches across the country, where the offer will be valid.
In the home loan scheme, interest rate for loans up to Rs. 30 lakh has been slashed from 10.75% per annum to 10.50%, and for loans above Rs. 30 lakh, the rate is down from 11% to 10.50%. The rate of interest is ‘floating’ and applicable for all tenors.
Now, for every Rs. 1 lakh, the customer has to pay an EMI (Equated Monthly Instalment) of Rs. 915 for a 30 year loan, as against Rs. 934 so far.
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