Latest Interest Rates Charged By SBI On Loans, Other Details
- For customers applying for a car loan online through SBI's digital platform like Yono/ bank's website, the lender is providing additional 25 basis points concession on interest rate, according to bank's statement.
- The salaried customers can avail the loan of up to 90 per cent of the car's on-road price, the bank said.
- SBI is offering personal loan up to Rs 20 lakh at interest rate starting from 10.75 per cent with the longest re-payment tenure of 6 years.
- Under personal loan, salary account customers can avail pre-approved digital loans up to Rs 5 lakh through Yono app, the bank said.
- The bank is offering education loan at starting at an interest rate of 8.25 per cent for loan up to Rs 50 lakh and up to Rs 1.50 crore for studies in India and abroad respectively, according to SBI. Customers will be offered the longest re-payment tenure of 15 years for the same.
- In a separate announcement, SBI said its effective repo linked lending rate (RLLR) for cash credit or overdraft customers will be revised to 7.65 per cent from September 1.
- Cash credit (CC) is a short-term source of financing which enables customers to withdraw money from a bank account without keeping a balance. While, an overdraft account is a type of account from which customers can withdraw amount even if there is no fund in the account.
- Recently, SBI reduced MCLR by 15 basis points due to which overall home loan interest rate got reduced by 35 basis points since April 2019. MCLR currently stands at 8.25 per cent for the one-year tenor, according to SBI.
- SBI introduced repo-linked home loan products in July this year. A repo rate-linked home loan means that any changes in the key interest rate by the central bank are passed on directly to the customers.
- Last month, SBI released its quarterly earnings. It reported net profit of Rs. 2,312.20 crore in April-June period compared with loss of Rs. 4,875.85 crore in the same quarter last year.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
