Lates News Updates

Jul 17, 2007

Sopt loan by SBI

Tiruchi:About 30-crore worth on-the-spot loan sanctions were made at the property fair organised by the State Bank of India.It was organised as a part of the three-day ‘home loan festival’ that concluded on Sunday.As part of the function, the rate of interest for home loans has been reduced to 10.75 per cent from the existing 11.25.The processing fee has been reduced by 50 per cent, making it 0.25 per cent of the loan’s amount.

Into its third year, the fair had over 400 enquiries this year, the Regional Manager Mohamed Abu Kalam said.The trend has been the same for the last three year and the hike in the home loan interest this year has not dampened the spirits of the applicants, he observed.“We have made an extensive analysis of the real estate trend and the market for it remains to be at a premium. The loan mela is a platform for the people to learn all about fresh home loans and shifting the loans from other banks and financial concerns,” Mr. Kalam added.

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