State Bank of India home loan interest rates
The State Bank of India is a fortune 500 company and the largest commercial bank in India, with the Indian government as their largest shareholder. It has over 200 years of history and has an extensive network covering operations in 32 countries with over 15,000 branches. As of 31st March 2012, the group had assets worth USD 359 billion, deposits of USD 278 billion and capital & reserves in excess of USD 20.88 billion. The group commands over 22% share of the domestic Indian banking market.SBI is ranked 60th in the list of Top 1000 Banks in the world by “The Banker” in July 2012.
Their Singapore operations was set up in 1977 with offshore banking license and only granted Full Bank status with QFB privileges in 2008. The bank now has 7 retail branches, 24 SBI ATMs and over 130 ATMs in Singapore. SBI Singapore now offers a suite of retail banking products which also enhances its existing corporate banking products. One of their star services is the instant transfer facility for INR remittances. In the retail sector, the State Bank of India also offers savings accounts, term deposits, recurring deports and retail loans.
SBI offers homes loans for both HDB and private properties with options of Sibor-pegged floating rates or fixed rates for more stability. Lock-in periods are dependent on the schemes or promotion available and home owners will be glad to know there are no processing fees as well. For refinancing and equity loans, SBI also offers subsidies on legal fees, insurance and valuation services. If you are looking to move into your new home before selling away your previous property, you may also make use of SBI’s bridging loan. You will only need to service the interest during the repayment period and the loan can be repaid once you receive the sales proceeds.
As leading Singapore mortgage brokers, let us get you the lowest mortgage packages for: