SBI has again started with teaser interest rates

SBI today announced to continue the teaser home loan scheme for the month of may & june. Teaser home loans rate are those rates which give customer the benefit of less interest for starting few years.

SBI is giving loans at 8% for 1st year, 9% for 2nd year & 10% for the 3rd year 7 then according to the floating rates. Customers has happy to take loan at a lesser rate & are buying their homes.

HOME LOANS

Home loans are loans taken by people who buy their house and take the required money from Banks & Financial Institutes. In India a person can get up to 85% of the amount of house plus registration & other charges is given to the customer who is buying a loan in a new building & 75% for old building.

Leading Banks conduct research on the projects & customer profile for giving a loan. The interest rate differs according to customers for eg: A salaried customer would get loan at a cheaper rate while a self employed would have to bear higher interest rate. Procedure is also different i.e. a salaried customer can get the loan easily while a self employed may have some problem in getting the loan.

The interest rate also differs from bank to bank. The interest rate is less from nationalized banks then comes private banks & then NBFC's.

Credit cards

Credit card is the facility given to people who can buy anything they want & pay it after 30- 50 days. Credit card are given by leading banks giving their good customer with facility of using credit for 50 days.

Banks give many facility like:

• Zero Surcharge Petrol filling
• EMI facility
• Balance Transfer
• Buy Stuff Online