RETAIL LOAN CAMPAIGN AS FROM 15.02.2023
1. SBI HOME LOAN
SBI Home Loan is a type of housing loan for purchase/ Construction/ Renovation of house /Flat/Additional Construction/Improvement etc. It is also for refinancing of existing Housing Loan from other Financial Institutions.
| Eligibility | : | Individuals Employees of Private & Public Sectors and Self Employed Individuals |
| Amount | : | Maximum up to 100% of Total Project Cost*. (Minimum Amount: Rs. 100,000/-; Maximum Amount: No limit.) |
| Security | : | 1st Rank Fixed Charge on Land/Building. |
| Repayment | : | Maximum upto 30 years* |
2. SBI REALTY LOAN - Purchase of Land for Construction of House
| Eligibility | : | Individuals above 18 years of age of private & public sectors & self employed |
| Loan Amount | : | Up to 100% of Total Project cost* |
| Security | : | 1st Rank fixed charge on land. Pledge of salary if employed House to be constructed within 5 years |
| Repayment | : | Maximum upto 30 years* |
3. SBI MORTGAGE LOAN
SBI Mortgage loan is designed for General Purpose (Low interest rate)
| Eligibility | : | Individuals Employees of Private & Public Sectors and Self Employed Individuals |
| Amount | : | Minimum - Rs 100,000; Maximum - No Limit. (LTV upto 80 % of Market value as per recent Valuation report) |
| Security | : | Fixed Charge on assets such as land/building |
| Repayment | : | up to 15 years |
APR FOR MORTGAGE/ HOUSING/ REALTY LOANS
Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 6.25% p.a.
15 Years : 6.40 %
20 Years : 6.38 %
25 Years : 6.37 %
30 Years : 6.36 %
Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 7.00% p.a.
15 Years : 7.15 %
20 Years : 7.13 %
25 Years : 7.12 %
30 Years : 7.11 %
Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 7.50% p.a.
15 Years : 7.65 %
20 Years : 7.63 %
25 Years : 7.62 %
30 Years : 7.61 %
CONCESSIONAL RATE OF INTEREST FOR HOUSING/REALITY?MORTGAGE LOAN SCHEMES:-
| Housing/Realty/ Mortgage Loan above Mur 2.0 Mio |
Rate of interest: PLR minus 1.25%, presently@ 6.25% p.a. |
| Housing/Realty/ Mortgage Loan above Mur 1.0 Mio upto Mur 2.0 Mio |
Rate of interest: PLR minus 0.50%,; presently @ 7.00% p.a.
|
| Housing/Realty/ Mortgage Loan upto Mur 1.0 Mio |
Rate of interest: PLR; presently@ 7.50% p.a. |
4. SBI CAR LOAN
Purpose: To finance New/Reconditioned Car & Second hand Car / Vehicle
| Eligibility | : | Individuals Employees of Private & Public Sectors and Self Employed Individuals |
| Amount | : | Upto 85 % of Total Cost (On Road Price).Minimum Amount: Rs. 100,000/-; Maximum: No Limit. |
| Security | : | Lien/GSD on vehicle. |
| Repayment | : | Minimum: 3 Years; Maximum: Up to 7 Years. |
CONCESSIONAL RATE OF INTEREST FOR CAR LOAN SCHEME:-
|
Car Loan (Electric / Hybrid vehicles) Rate of interest: PLR minus 1.00%,presently @ 6.50% p.a. Car Loan (Non Electric / Non Hybrid vehicles) Rate of interest: PLR; presently @ 7.50% Processing Fee: 1% of loan amount
|
APR FOR CAR LOANS
Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 6.50% p.a.
3 Years : 6.98 %
4 Years : 6.87 %
5 Years : 6.81 %
6 Years : 6.77 %
7 Years : 6.74 %
Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 7.50% p.a.
3 Years : 7.98 %
4 Years : 7.87 %
5 Years : 7.81 %
6 Years : 7.77 %
7 Years : 7.74 %
Processing Fee: 1% of loan amount
5. SBI EDUCATIONAL LOAN
Designed for financing courses for diploma, under-graduate, post-graduate, professional courses by approved institutes.
| Eligibility | : | Student pursuing studies abroad or in Mauritius |
| Loan Amount | : | No limit (Depending on total course fees & other expenses & Customers' repayment capacity) |
| Security | : | 1st Rank Fixed Charge on Land/building |
| Repayment | : | Maximum 10 years inclusive of Moratorium period |
| Moratorium | : | Repayment will commence 6 months after completion of course or 5 years after disbursement of 1st instalment, whichever is earlier. Interest Payable monthly. |
6. SBI EASY LOAN FOR GOVERNMENT EMPLOYEES
To finance any personal expenses, other than for speculative purposes at flexible terms.
Low interest rate
| Eligibility | : | Confirmed Employees of Government & Para-statal bodies (With minimum salary/Income of Rs.15,000/- per month) |
| Amount | : | Limit, Equivalent to 2 Months’ of Basic Salary; Maximum- Rs. 200,000/-. |
| Security | : | Credit agreement by borrower/ Irrevocable Salary Pledge |
| Repayment | : | To be renewed every year. |
7. SBI CAR CASH
General Purpose
Low interest rate
| Eligibility | : | Existing Car Loan Customers (with satisfactory repayment history); Salaried or Self Employed with minimum Income of Rs. 20,000/- Monthly |
| Amount | : | Limit, Equivalent to 1 Months’ of Basic Salary/Income; Maximum- Rs. 25,000/-. |
| Security | : | Credit Agreement |
| Repayment | : | To be renewed every year |
8. SBI HOME CASH
General Purpose
Low interest rate
| Eligibility | : | Existing Housing Loan Customers (with reputed/ satisfactory repayment history); Salaried or Self Employed with minimum Income of Rs. 20,000/- Monthly |
| Amount | : | Limit Equivalent to 1 Months’ of Basic Salary/ Income; Maximum- Rs. 50,000/-. |
| Security | : | Credit Agreement |
| Repayment | : | To be renewed every year |
9. SBI CAR ADVANTAGE
To finance New/Recon Car
Low interest rate
| Eligibility | : | High Net-worth salaried or self employed customers including expatriates (Net Monthly income of applicant should be Rs100,000 & above) |
| Amount | : | Upto 100 % of Total Cost (On Road Price).Minimum Amount: Rs. 100,000/-; Maximum: No Limit. |
| Security | : | Lien/GSD on vehicle. |
| Repayment | : | Minimum: 3 Years; Maximum: Up to 7 Years. |
10. SMART CREDIT
Smart credit is an overdraft facility to finance any personal expenses, other than for speculative purposes at flexible terms and a card is provided to the customer.
| Eligibility | : | Permanent employees of Govt / parastatal / firms of repute / self employed - with steady source of income. |
| Amount | : | 3 months basic salary, maximum Rs 100,000/- |
| Security | : | Pledge of Salary / Insurance / Credit Agreement. For self employed: 1st Rank Fixed Charge on land / building. |
| Repayment | : | 12 months |
