HOME LOANS - INTEREST RATES
- SBI Special Home Loan Scheme –
(w.e.f. 16.12.2008 and valid up to 30th June 2009)
For Loans upto Rs.5 Lac – 8.5% p.a. fixed rate with reset every 5 years* from the date of disbursement of first installment.
For Loans above Rs.5 Lac and upto Rs.20 Lacs – 9.25% p.a. fixed rate with reset every 5 years* from the date of disbursement of first installment.
*Option to customer at the end of 5 years to convert into floating rate.Reset or conversion will be at the rates prevailing at the time of reset.
SBI Happy-Home Loan Offer for new loans sanctioned on or after 2nd February 2009 and at least partially disbursed on or before 30th April 2009 –
Interest rate 8% p.a. (Frozen) for a period of one year. Interest rate will be reset after one year as per contracted rate at the time of sanction of loan as under-
Interest Rates w.e.f. 01.01.2009
a) Floating Rates linked to SBAR
SBAR w.e.f. 01.01.2009 = 12.25 % p.a.
Loans (i.e. Sanctioned limits) upto Rs.30 Lacs
Loan amount |
Loan Tenure -> |
Upto 5 Yrs |
Above 5 Yrs & upto 15 Yrs |
Above 15 Yrs & upto 25 Yrs |
Loans upto Rs.30 lacs for new loans sanctioned on or after 01.01.2009 |
Linkage with SBAR in the loan document |
2.25% below SBAR, |
2.00 below SBAR |
1.75% below SBAR |
Special product level discount which may be withdrawn/revised solely at the discretion of the Bank. |
0.25% |
0.25% |
0.25% |
Effective
Rate |
9.75% p.a. |
10.00% p.a. |
10.25% p.a. |
Loans (i.e. Sanctioned limits) above Rs.30 Lacs and upto Rs.75 Lacs
|
Loan Tenure -> |
Upto 5 Yrs |
Above 5 Yrs & upto 15 Yrs |
Above 15 Yrs & upto 25 Yrs |
Above Rs.30 lacs and upto Rs.75 Lacs w.e.f. 01.01.2009 |
Linkage with SBAR |
2.00% below SBAR |
1.75% below SBAR |
1.50% below SBAR |
Effective rate |
10.25%p.a. |
10.50% p.a. |
10.75% p.a. |
Loans (i.e. Sanctioned limits) above Rs.75 Lacs
Above Rs.75 Lacs w.e.f. 01.01.2009 |
Linkage with SBAR |
2.00% below SBAR |
1.75% below SBAR |
1.25% below SBAR |
Effective rate |
10.25% p.a. |
10.50% p.a. |
11.00% p.a. |
b) Fixed rates - Re-payment Upto 10 Years
(w.e.f. 01.01.2009):
Fixed rates (subject to ‘force majeure’ clause and interest rate reset at the end of every two years on the basis of fixed interest rates prevailing at that time) |
Upto Rs. 30 Lacs
Above Rs. 30 Lacs |
11.25% p.a.
12.25% p.a. |
c) Loans for deposit of earnest money for allotment of a plot / house / flat
(Floating rates only)- W.E.F. 01.01.2009 - 1% above SBAR, Min. 13.25% p.a.
Loan amount |
Margin |
Upto Rs.30 Lacs |
20% |
Above Rs.30 Lacs and upto Rs.75 Lac |
20% |
Above Rs.75 Lac |
25% |
d) Other Home Loans Schemes:
'SBI Gram Niwas' Rural Home Loans, Home Loans under 'Prashasan Plus', 'Teacher Plus' and 'Oil Plus’: 10 bps below applicable card rates for the respective tenures (fixed rate loans only upto 10 years and subject to 'force majeure' clause and interest rate reset at the end of every two year on the basis od fixed interest rates prevailing then).
Following rebates will be applicable on the above mentioned rates:
(i) Risk Based Discount : upto 0.25%
(ii) Loans to customers who maintain their salary accounts with us : 0.10%
(iii) Loans for purchase of dwelling units in Green Houses rated by approved agencies : 0.10%
e) SBI Life-style Loan (only for existing Home Loan borrowers) (w.e.f.2nd February 2009) –8% p.a.
CAR LOANS
w.e.f. 01.01.2009 (SBAR 12.25%)
New Car including NRI Car Loan
Tenure |
Rate of Interest |
Up to 3 years (for loans Rs. 7.5 lac & above) |
0.75% below SBAR i.e. 11.50% p.a. |
Up to 3 years (for loans below Rs. 7.5 lac) |
0.50% below SBAR i.e. 11.75% p.a. |
Above 3 yrs up to 5 yrs (for all loans) |
0.50% below SBAR i.e. 11.75% p.a. |
Above 5 yrs up to 7 yrs (for all loans) |
0.25% below SBAR i.e. 12.00% p.a. |
Car Loan Overdraft: New Car only
Tenure |
Rate of Interest |
Up to 3 years (for loans Rs. 7.5 lac & above) |
0.25% below SBAR i.e. 12.00% p.a. |
Up to 3 years (for loans below Rs. 7.5 lac) |
At SBAR i.e. 12.00% p.a. |
Above 3 yrs up to 5 yrs (for all loans) |
At SBAR i.e. 12.00% p.a. |
Above 5 yrs up to 7 yrs (for all loans) |
0.25% above SBAR i.e. 12.50% p.a. |
Used Vehicles
Tenure |
Rate of Interest |
Up to 3 years |
3.00% above SBAR i.e. 15.25% p.a. |
Above 3 yrs up to 7 yrs |
3.25% above SBAR i.e. 15.50% p.a. |
NOTE: ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE.
SCHEME FOR LOAN FOR TWO WHEELERS
w.e.f. 01.01.2009 (SBAR 12.25%)
Two Wheelers
Tenure |
Rate of Interest |
Up to 3 years |
4.00% above SBAR i.e. 16.25% p.a. |
NOTE: ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE.
EDUCATION LOAN SCHEME
w.e.f. 01.01.2009 (SBAR 12.25%)
SBI Student Loan Scheme
RBI Educational Loan (Old Scheme)
Loan Amount |
Rate of Interest |
Loans upto Rs. 4.00 Lacs |
0.50% below SBAR i.e. 11.75% p.a. |
Loans above Rs. 4.00 Lacs and
upto Rs. 7.50 Lacs |
1.00% above SBAR i.e. 13.25% p.a. |
Loans above Rs. 7.50 Lacs |
At SBAR i.e. 12.25% p.a. |
An Interest Rate concession of 0.50% to Girl Student availing Education Loans
SBI Scholar Loan Scheme
Loan Amount |
Rate of Interest |
Irrespective of Amount |
1.50% below SBAR i.e. 10.75% p.a. |
An Interest Rate concession of 0.50% to Girl Student availing Scholar Loans
NOTE: ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE.
PERSONAL LOAN AGAINST THIRD PARTY SECURITY
w.e.f. 01.01.2009 (SBAR 12.25%)
Personal Loan against Third Party Security of NSC/ IVP/ RBI Relief Bonds etc.
Tenure |
Rate of Interest |
Up to 3 years |
1.00% above SBAR i.e. 13.25% p.a. |
Above 3 years upto 6 years |
0.25% above SBAR i.e. 12.50% p.a. |
NOTE: ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE.
LOANS AGAINST SHARES / DEBENTURES / BONDS
w.e.f. 01.01.2009 (SBAR 12.25%)
Loan against Shares/ Debentures/ Bonds
Scheme |
Rate of Interest |
Equity Plus Scheme |
2.25% above SBAR i.e. 14.50% p.a. |
NOTE: ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE.
OTHER SCHEMES
w.e.f. 01.01.2009 (SBAR 12.25%)
Other Loans
Type of Facility |
Rate of Interest |
Clean Overdraft |
4.00% above SBAR i.e. 16.25% p.a. |
Personal Loans Scheme (SBI Saral) |
4.25% above SBAR i.e. 16.50% p.a. |
SBI Loan to Pensioners |
0.50% above SBAR i.e. 12.75% p.a. |
Festival Loan Scheme |
2.50% above SBAR i.e. 14.75% p.a. |
Loans to Employee to Subscribe to ESOPs |
2.25% above SBAR i.e. 14.50% p.a. |
Loan against
Bank Time Deposit |
1.00% over the rate paid on
Relative time deposit |
Rent Plus Scheme
Centre |
Loan Amount |
Rate of Interest |
Metro |
Loan upto Rs. 7.50 Crores |
1.00% above SBAR i.e. 13.25% p.a. |
Above Rs. 7.50 Crores |
1.25% above SBAR i.e. 13.50% p.a. |
Non Metro |
Loan upto Rs. 5.00 Crores |
1.00% above SBAR i.e. 13.25% p.a. |
Above Rs. 5.00 Crores |
1.25% above SBAR i.e. 13.25% p.a. |
XPress Credit
Type |
Facility |
Rate of Interest |
Demand Loan |
Check-off from Employer |
0.75% above SBAR i.e. 13.00% p.a. |
Overdraft |
Where salary A/C is with us |
1.25% above SBAR i.e. 13.50% p.a. |
NOTE: ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE.
LOANS AGAINST GOLD ORNAMENTS, MORTGAGE OF PROPERTY
w.e.f. 01.01.2009 (SBAR 12.25%)
a) Loan against Gold Ornaments
Size of Credit Limit |
Rate of Interest |
Upto Rs. 1,00,000/- |
At SBAR i.e. 12.25% p.a. |
Above Rs. 1,00,000/- |
0.50 above SBAR i.e. 12.75% p.a. |
b) Loan against Mortgage of Immovable Property
Size of Credit Limit
(Term Loan) |
Rate of Interest |
Upto Rs. 1,00,00,000/- |
1.00 above SBAR i.e. 13.25% p.a. |
Above Rs. 1,00,00,000/- |
1.25 above SBAR i.e. 13.50% p.a. |
*No Overdraft against Mortgage of Property |
NOTE: ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE
LOANS AGAINST NSCs /RBI RELIEF BONDS / KVPs / IVPs / SURRENDER VALUE OF SBI LIFE / LIC / SBI MAGNUMs ETC.
w.e.f. 01.01.2009 (SBAR 12.25%)
Loans against NSCs/ RBI Relief Bonds/ KVPs/ IVPs/ Surrender Value of SBI Life/ LIC/ SBI Magnums Etc.
Tenure |
Rate of Interest |
Upto 3 years |
0.25 above SBAR i.e. 12.50% p.a. |
More than 3 years upto 6 years |
0.25 above SBAR i.e. 12.50% p.a. |
NOTE: ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE
