Monday, April 3, 2017

Lower EMI on Home Loan. Win Win Situation

The cut in the Base rate by 15 basis point to 9.10 from 9.25 per cent  by Indias Number One bank SBI is a win win situation for the existing borrowers as it will lead to lower the EMI. As per the notification HDFC Bank has reduced base rate to 25 bps to 9 per cent.

SBI new rate is effective from the date the bank merged five of its associats bank and the Bhartiya mahila bank making it the 45th largest bank in the world..The merged entity will have a deposit base of more than 26 lakh crores and advance level of 18.5 lakhs crores.


The employee strength  of SBI after the merger has increased to 2,70,011 employees.

With such a figures the bank is likely to lend more to the new customers as well and this a very positive sign for the Real estae market which is in recession. Cheaper Home Loan would definitely help the Real estate Player to lower their unsold units.


Flying Sharks
Inputs from Indian Express

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