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The preferred home loan provider

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The State Bank of India has been voted as the most preferred home loan provider in AWAAZ Consumer Awards along with the most preferred bank award in a survey conducted by prominent agencies in 21 cities across India. Availing Home Loans is made easy and enjoyable with SBI.The unique approach of State Bank o f India has enabled it to rise to this position. The employees of the SBI offer end-to-end services and are accountable to the customers. All branches provide loans and the customers can directly meet the bank’s employees. The bank provides complete transparency and the interest is charged on the daily reducing balance.No penalty for prepayments is made and there are no hidden costs. All the features of the product, including interest rates, are in the public domain.

The unique features of the SBI Home Loan include provision to finance cost of furnishing and consumer durables as part of project cost, repayment permitted up to 70 years of age, free personal accident insurance cover up to Rs.40 Lakhs., optional Group Insurance from SBI Life at concessional premium (Upfront premium financed as part of project cost), interest calculated on daily reducing balance basis, and starts from the date of disbursement and ’Plus’ schemes which offer attractive packages with concessional interest rates to Govt. Employees, Teachers, Employees in Public Sector Oil Companies.

The State Bank of India offers many interesting Special Home Loan products that the customers can choose from.

The SBI Maxgain Home Loans is an innovative and customer-friendly product that enables the customer to earn optimal yield on his savings and minimize the interest burden on Home Loans with no extra cost.

The loan is granted as an overdraft facility with the added flexibility to operate the Home Loan Account like the SB or Current Account.

The product serves to minimize the customer’s interest cost by enabling him to park his surplus finds in SBI Maxgain with the benefit to withdraw the surplus finds whenever necessary, especially in the wake of low yields from other deposits/investments avenues.

The SBI Freedom Home Loans is a revolutionary product designed for customers who are on the look out for a source of finance for a property they want to invest in without mortgaging the same.

The only requirement is that the customer has to pledge any of his financial securities and in turn avail Home Loan. This is an excellent opportunity for those who do not want to pay stamp duty for mortgaging of their property or go through the hassles of creation of mortgage.

Repayment of this loan is highly customized, providing the option to repay through regular EMIs or through maturity proceeds of the securities pledged.

The SBI Home Plus is a Top up Personal Loan available exclusively to all SBI Home Loan customers after 12 months of disciplined repayment of the Home Loan by them. The SBI Home Plus is given against the appreciation value of the property with attractive interest rates and a repayment period of maximum 10 years.

Nanthini Dominique

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