For home loans up to Rs 5 lakh (Rs 500,000), SBI's floating rate is 8.5 per cent (10 per cent would be the margin money). Home loans between Rs 5 lakh and Rs 20 lakh is 9.25 per cent (15 per cent is margin money).
Home loans between Rs 20 lakh and Rs 30 lakh (Rs 2-3 million) will have an interest rate of 9.75 per cent for 5 years, 10 per cent for 5-15 years and 10.25 per cent for 15-25 years.
Loans above Rs 30 lakh would be charged (floating interest rate) at 10.25 per cent (5 years), 10.5 per cent (5-15 years) and 10.75 per cent for (15-25 years).
Fixed loans for Rs 30 lakh would be charged at 11.25 per cent and above Rs 30 lakh would be 12.15 per cent. The tenure would be ten years.
There would no pre-payment penalty and no processing fee for loans up to Rs 20 lakh.
Image: Omaxe residential project. | Photograph, courtesy: Omaxe
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