Loan & Finance Tips on Your Finger Tips

You can get a home loan from SBI Bank to buy a ready built house, construct one, renovate the existing house, extend the property and can do a lot more. But before applying make sure you get a suitable interest rate on your loan amount because the SBI home loan interest rate is the lowest. You can take whether a fixed or floating rate of interest rate on your loan amount and to know its benefits you can use SBI home loan EMI calculator . To know about SBI loan interest rate and EMI calculator read this article. How the interest rate on the SBI home loan is determined? SBI home loan interest rate is based on the marginal cost of fund based lending rate (MCLR) of the bank. After the RBI rules on the home loans, SBI started providing loans to the customers on MCLR based interest rate, current MCLR of the SBI bank is 7.70% to 8.25%. SBI provides a lower interest rate to the women customers with a revised MCLR of 7.65% to 8.20%. You can estimate the payable interest rate and monthly l...

Purchasing a house can exhaust all your life’s savings and upon that you have to take a big loan amount. The misery increases when the home loan interest rates are going skywards. In that case, what option do you have? The oldest and the most trusted public sector bank, SBI, provides one of the lowest interest rates on home loans. The interest rates are as low as 8.25% per annum. Such low interest rates massively help individuals as it lets them manage their finances better. Some other features of SBI home loan interest rates are commendable, like, women borrowers get to have the loan at a lower interest rate than men. How can you ask for the lowest SBI Home Loan Interest Rates? Net Monthly Income: SBI has a close look at your bank statements and salary slips to see whether you have a regular flow of the minimum net monthly income required. If there’s a consistency in your income, you can ask SBI to give you the lowest interest rate. Higher salary amount is always an edge in...