State Bank of India today announced its rate cuts on House Loans by 1% following HDFC Bank and other major banks announcing rate cuts on Housing Loans.
SBI Home Loans are now cheaper by 0.5 to 1 percent depending on maturity of loan and the amount of Housing loan taken. The bank also gives special discount to customers who holds a salary account with SBI. There would be even further discount if the Margin money is high when the loan is taken.
As part of the Festival offer the rates are applicable for all new SBI Housing loans sanctioned on or after October 8,2007 and is valid up to December 31,2007.