STATE BANK
OF INDIA LAUNCHES FLEXIPAY HOME LOAN FOR GEN NEXT
Shri B. ramesh babu, Chief General Manager, in the presence of
Shri G. Ravindranath, Shri. Indu Sekhar Dantu, General Manager, State Bank of
India, Chennai Circle Launched a New Varient in Home loan namely SBI FLEXIPAY
HOME LOAN State bank of India(SBI), the biggest Commercial bank and a leading
provider of Home Loans to public at present offering home loan at 9.50% for
women borrowers
For others the interest rate is 9.55%
SBI had launched a new variant namely
SBI FlexiPay Home Loan
This housing loan is unique in the Home Loan industry which
offers benefits 20% extra loan amount
·
Targeting mainly the Gen-next youngsters in the
ge
group of 21 to 45
·
Minimum experience in salaried service 2 years
·
With a view to easing the stress on the customers,
this product has been brought out in such a way that the payment of EMI is
properties with the increase in salary
Offer special feature of this
product is
·
The moratorium period is available up to 5 years,
whereby interest alone has to be serviced.
Thereafter, regular EMI has to paid
for three years, followed by 5% increase in EMI for another three years.
Finally, the loan outstanding will be liquidated with terminal EMI during the
remaining period.
·
The loan repayment period is available from 25 years
to 30 years with an option for pre-payment.
·
The minimum loan amount to be availed under the
product is Rs. 20 lacs.
 |
Photo Caption : Mr Indu Sekhar Dantu - General Manager SBI Chennai Circle
Mr Ramesh Babu - CGM
Mr G. Ravindranath - General Manager SBI Chennai Circle
|
As the strain on the borrower gets minimized during the initial
loan period, it is expected that the SBI FlexiPay Home Loan, will attract the
Gen-next in a big way.
Under the new scheme SBI, Chennai Circle has sanctioned 7 loans
amounting to Rs 281.00 lacs. More details about the product are also available
on Banks website www.sbi.co.in
The Bank has also provided the facility
of getting instant approval to the applicants by applying online
onlineapply.sbi.co.in
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