SBI Bank is offering cheap loans to its customers, these 5 types of loans will be available

SBI Bank is offering cheap loans to its customers, these 5 types of loans will be available cheaply

State Bank of India offers an exclusive mobile app for customers to apply for a loan for their dream homes through their Android smartphones, making it the quickest and the most convenient way of availing home loan.

This app facilitates:· Get loan eligibility,

• · Customize loan quotes as per individual’s requirement
• · Retrieve your loan quote at a later date to complete the application process
• · Get Instant “Approval-in-Principle”
• · Download prefilled application form
• · Upload KYC & Income documents
• · Schedule appointment with Bank
• · Request for “Get a Call Back”
• · Track application status
• · Notification and alerts for scheduled activities and completed jobs
• · Get information regarding product features, document-checklist and rate of interest
• · Frequently Asked Questions
• • Get Instant Sanction & disbursement of SBI Tatkal e-Personal Loan.

Home loan

SBI is currently lending at only 6.70 per cent. But it is the lowest rate and can vary depending on your property and Sibyl.

Car loan

SBI Bank is currently offering loans at an interest rate of 7.50 per cent. The special thing is, SBI offers car loan facility up to 85 months, which means you can easily repay your car loan gradually.

Overseas Education Loan

Apart from that, if you are planning to study abroad and want to take a loan, you will have to pay EMI at an interest rate of 9.30 per cent.

Pre-approved personal loan

In Pre-Approved Personal Loan you will have to pay interest at the rate of 9.60. It is much less than other banks.

Gold loan

Gold loan at the rate of 7.50 is being given by SBI. A loan of up to Rs 50 lakh can be taken from a bank by pledging gold. You do not have to do much paperwork to get this loan which is why it is a good option for managing money.

Home Loan

Home loan/Housing Loan is a lump sum amount of money borrowed from any financial or banking institutions to buy a house. Home loan consists of two types of interest rates named as fixed and floating interest rates. As per the chosen interest rate, consumer repays the loan in form of EMIs for the desired tenure.

Education Loan

There are numerous banks which offer loans specifically for students who aim study and for those who aim to study abroad. This distinction in the loan has been made keeping in mind the different financial needs that arises from studying in India or studying abroad. 

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