SBI Customers? Step up your EMIs on home loan as your salary rises; this is what SBI Flexible Home loan offers
Home loans are given depending upon your age, your salary status, your capability of repayment and background checks of previous loans.
The State Bank of India (SBI) has been introducing various benefits to its customers in regards to their loans especially home loans. In almost every individuals checklist of dreams, one most likely includes a house of their own. Guess what! The largest lender SBI also has a flexible home loan facility available for its customers which allow them to change their EMIs as per their salary. For instance if your salary goes up and you have a better opportunity to repay your loans faster by increasing your EMIs.
On its official twitter account, SBI said, "Don’t stretch your income! Opt for SBI Flexipay Home Loan and step up your EMI payments as your earnings go up."
Home loans are given depending upon your age, your salary status, your capability of repayment and background checks of previous loans. If your credit score is very good then getting an home loan is very easy as your bank is assured that you are trustworthy and capable enough to repay your debt.
This is what SBI's flexible home loan offers you!
SBI Flexipay Home loan provides an eligibility for a higher loan amount exclusively for the salaried borrowers. It offers customer the option to pay only interest during the moratorium (pre-EMI) period, and thereafter, pay moderated EMIs.
Don’t stretch your income! Opt for SBI Flexipay Home Loan and step up your EMI payments as your earnings go up. Apply Now: https://t.co/nZOwgDmTV5#SBI #StateBankOfIndia #HomeLoans #SBIHomeLoans #SBIFlexipayHomeLoan #SMSHomeFacility #OnlineSBI #SBIPrivilegeHomeLoan pic.twitter.com/mTpSzTJhcv
— State Bank of India (@TheOfficialSBI) January 21, 2019
The EMIs will be stepped-up during the subsequent years. This variant of SBI home loan is very useful for young earners. The SBI Flexipay home loan has the potential to lure a large section of home loan buyer towards SBI.
Low Interest Rates
Low Processing Fee
No Hidden Charges
No Pre Payment Penalty
20% higher home loan eligibility
Interest charges on Daily Reducing Balance
Repayment up to 30 years
Interest Concession for Women Borrowers
Resident Type: Resident Indian
Minimum Age: 21 years
Maximum Age: 45 years, to apply for loan, and upto age of 70 years for repayment
Loan Tenure: up to 30 years.
For women, home loan between Rs 20 lakhs to Rs 30 lakh has interest rates between 8.75% to 8.85% per annum. Meanwhile, loans above Rs 30 lakhs but up till Rs 75 lakh has interest ranging from 8.90% to 9%, whereas above Rs 75 lakh home loan has 9% to 9.10% interest rates.
In case of others, loan between Rs 20 lakh to Rs 30 lakh has 8.80% to 8.90% interest rates, meanwhile, interest between 8.95% to 9.05% is levied on between Rs 30 lakhs to Rs 75 lakhs loan and between 9.05% to 9.15% rates are applicable on above Rs 75 lakh home loans.