SBI to refund home loan borrowers if builder delays project
Thursday, January 9, 2020, 3:05 PM
To give fillip to the real estate sector, India's largest lender State Bank of India launched a home buyer finance guarantee scheme under which the lender would refund the entire principal amount if the developer fails to deliver the project within the assured deadline. The refund scheme will be valid till the occupation certificate is procured by the builder.
Home loans set to get cheaper as SBI lowers lending rate by 25 bps
Tuesday, December 31, 2019, 12:36 PM
SBI, the country's largest lender, on Monday cut its lending rates linked to the central bank's repo rate by 25 basis points (bps) to 7.8%, lowering borrowing costs for small businesses and homebuyers. The new rate, SBI said, will be applicable from 1 January. "New homebuyers will get loans at an interest rate starting from 7.90%. (previously at 8.15%)," SBI said in a statement.