SBI offers Sensational discount on Housing Loans.
Posted on: 02/Mar/2021 11:51:52 AM
Following the raging coronavirus pandemic and the subsequent lockdown impositions, most industries buckled down on production & sales and also, multitudes of citizens lost their jobs! Individual earnings as well as the state/country revenue were hugely affected!
In the above depressing scenario, the Reserve Bank of India offered an exemption from the payment of Housing Loan EMIs for a period of 6 months.
With the trend of the decreasing impact of the coronavirus pandemic, relaxations on the lockdown have been gradually announced with each subsequent phase of the lockdown imposition extension, as the economy and the industry have yet to pick up the normality, circulation of money among the public and the industrial sector has remained low!
Given the above situation, the country’s premier public sector bank and a leading public lender as well, the State Bank of India (SBI), has notified that it is reducing the housing loan interest rates (ratio) to 6.70% until 31st March!
Further, SBI has announced a 100% waiver on the processing fee while applying for the housing loans. It may be noted that earlier, SBI had announced that the repayment period for the housing loan and industrial loans taken will be extended by another 2 years.
