SBI has declared different interest rates for housing and car loans for 1st year, next 2 years and so on. which rates shall be taken into consideration for calculating perquisites? whether different rates shall be taken for respective year as per SBI rates or shall the 1st year's rate be continued?? SBI rates are as follows:
) SBI Easy Home Loan
(Upto Rs.30 Lacs)
(Base Rate: 8.25% p.a.)
|
Name |
SBI Easy Home Loan |
|
Facility Type |
Term Loan or OD as in SBI MaxGain. (OD facility will be available for loans above Rs.5 Lacs.) |
|
Loan amount |
Upto (and including) Rs.30 Lacs |
|
Interest Rate |
Card Rate applicable for the tenor of the loan – 1.50% above Base Rate, Present effective rate being 9.75% p.a. |
|
Ist Year |
1% discount over Card Rate, present effective rate being 8.75% p.a. |
|
2nd and 3rd year |
0.25% discount over Card Rate, present effective rate being 9.50% p.a. |
|
4th year onwards |
Card Rate |
|
No Fixed Interest Rate option. |
|
b) SBI Advantage Home Loan
(Above Rs.30 Lacs and upto Rs.75 Lacs)
(Base Rate: 8.25% p.a.)
|
Name |
SBI Advantage Home Loan (Above Rs.30 Lacs and upto Rs.75 Lacs) |
|
Facility Type |
Term Loan or OD as in SBI MaxGain. |
|
Loan amount |
For Home Loans above Rs 30 lacs and upto Rs. 75.00 Lacs |
|
Interest Rate |
Card Rate applicable for the tenor of the loan – 1.75% above Base Rate, Present effective rate being 10.00% p.a. |
|
Ist Year |
1.25% discount over Card Rate, present effective rate being 8.75% p.a. |
|
2nd and 3rd year |
0.50% discount over Card Rate, present effective rate being at 9.50% p.a. |
|
4th year onwards |
Card Rate |
|
No Fixed Interest Rate option. |
|
c) SBI Premium Home Loan
(Above Rs.75 Lacs)
(Base Rate: 8.25% p.a.)
|
Name |
SBI Premium Home Loan – Above Rs.75 Lacs |
|
Facility Type |
Term Loan or OD as in SBI MaxGain upto Rs.1 Crore. |
|
Loan amount |
For Home Loans above Rs 75.00 lacs |
|
Interest rate |
Card Rate applicable over the tenor of the loan is 1.75% over the Base Rate, present effective rate being 10.00% p.a. Concessions including discretionary concessions will be available over the tenor of the loan No Fixed Interest Rate option. |
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