SBI New Home Loan - Latest State Bank Housing Loan Interest Rates
Are you looking for latest sbi new home loan rates? Actually, the bank has at least two different schemes with differing rates. The schemes are categorized based on the amount borrowed. Let me brief you the information on latest loan rates for all the schemes available as of now.
SBI New Home Loan Interest Rates (2010) - Different Schemes
First loan scheme is called SBI Easy Loan. This is suited for building a new home for amounts lesser than 50 Lakh Rupees. Rate is not a flat one but may vary depending upon the limits set by RBI during borrowing and repaying periods. However you will have to pay a flat rate for the first year after borrowing. This is typically around 7 % to 9% p.a. You could refer to any leading financial portal from India for accurate current rates.
Second scheme is called SBI Advantage Home Loan. This particular state bank housing loan is for big houses which would require an amount greater than 50 Lakhs. Again the rate is not fixed here. It would vary depending upon RBI regulations. For the first year you would be required to pay an interest rate of around 8%. The next two years you would be paying little higher rates. Following these three years you would be required to pay a variable rate which would depend upon regulations during that period.
Next Step - How To Know Latest Exact Rates?
As like any bank, SBI changes its rates often. You can find latest housing loan rates from popular newspapers and websites during the time of borrowing.