SBI Flexiplay Home Loan Scheme for young executives
Posted on: 02/Feb/2016 10:51:01 AM
SBI Flexiplay Home Loan Scheme was launched here on Monday.
Under the SBI Flexiplay Home Loan Scheme, the borrower will have the option of paying lower EMIs during the initial years and step-up the same during the subsequent years while ensuring recovery of entire loan amount within the agreed term. The applicants should be in the age bracket of 21 years to 45 years.
The minimum loan amount under the scheme will be Rs. 20 lakhs. The loan term would be minimum 25 years and maximum 30 years.
The scheme offers a moratorium period of 36 months for ready-to-move properties and of up to 60 months for under-construction properties.
This product would encourage the youth to acquire residential property in their initial years of service/business.
