7th Pay Commission: SBI unveils cheaper home loans for beneficiaries

Latest News

Clarification on deletion of name of daughter from the family details of a Central Government pensioner

View All >>

7th pay commission

7th Pay DA : जाने कितना बढ़ा महंगाई भत्ता

Good News For Central Govt Employees, Salary to Increase Up to THIS Amount
केंद्रीय कर्मचारियों का बंपर फायदा- ₹56,000 की बेसिक सैलरी पर DA बढ़कर होगा 2,08,320 रुपए, जानें कैलकुलेशन
दोगुनी होगी पेंशन! हटने वाली है 15000 रु की लिमिट? जानिए अब कितने मिलेंगे रुपये
महंगाई भत्ते के बाद अब बढ़ सकता है फिटमेंट फैक्टर, जानिए फिर कितनी हो जाएगी केंद्रीय कर्मचारियों की सैलरी!
केंद्रीय कर्मचारियों का फिटमेंट फैक्टर बढ़ेगा? 2.57 से बढ़कर 3 हुआ तो कितनी बढ़ेगी सैलरी
मप्र लिपिक वर्ग की वेतनविसंगति कब दूर होगी: कर्मचारी संघ
मनचाहा तबादला कर्मचारी का अधिकार नहीं: सुप्रीम कोर्ट –

view all>>

Allowances

Good News – Dearness Allowance (DA) Increased from 1 July 2024

view all>>

Central Govt

Clarification on deletion of name of daughter from the family details of a Central Government pensioner

view all>>

7th Pay Commission: SBI unveils cheaper home loans for beneficiaries

August 3, 2016, 3:08 AM

7th pay commission, sbi loans, government employee loans, sbi loan for pensioners, pensioner loans, 7th pay commission benefits, business news, india news

To attract the beneficiaries of 7th Pay Commission, SBI has launched cheaper home loan schemes for defence and other government employees with installment tenure extending up to 75 years of age. It will offer two new home loan products ‘SBI Privilege Home Loan’ for government employees and ‘SBI Shaurya Home Loan’ for defence personnel without any processing fee.

“Under the new schemes, employees of central/state governments, defense forces, public sector banks, public sector enterprises of central government and other individuals with pensionable service

will be offered home loans tailored to their specific needs,” State Bank of India (SBI) said in a statement. The bank said the tailor-made products will help customers purchase a spacious or luxurious home without stretching their post-retirement finances.

The new product includes extending the repayment term till the borrower turns 75 years from the existing 70 years, and also a full waiver of processing fees, it said. There will be a lower EMI burden post retirement and 0.05 per cent concession over the home loan interest. “Benefit of lower interest rate as a concession of 5 bps (0.05 per cent) over the home loan card interest rate is available wherever check-off facility is extended by the government under tie-up arrangement with the bank,” SBI said.

Among others, customers of other banks or financial institutions will have an option to switch over their home loan outstanding balance to SBI. “The launch of ‘SBI Privilege Home Loan’ and ‘SBI Shaurya Home Loan’ products is timed with the notification of 7th Pay Commission recommendations. Surplus income can thus be utilised by government employees and defense personnel towards purchase of new/better house,” SBI said.

SOURCE – indianexpress

Railway Employee (App)

Rail News Center ( App)

Railway Question Bank ( App)

Railway Mutual Transfer

(App)

Information Center ( App)

Disclaimer: The Information /News /Video provided in this Platform has been collected from different sources. We Believe that “Knowledge Is Power” and our aim is to create general awareness among people and make them powerful through easily accessible Information. NOTE: We do not take any responsibility of authenticity of Information/News/Videos.

This entry was posted in Central Govt Miscellaneous, Pay Commission, Central Govt Tags: central, Employee, Government, pay, railway