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Showing posts with label SBI. Show all posts
Showing posts with label SBI. Show all posts

Thursday, 28 May 2020

Big relief given by SBI, relief to pay EMI till August

New Delhi: On the one hand, the State Bank of India has shocked the people by slashing interest rates on deposits. On the other hand, it has announced relief to customers who have paid the EMI of the loan. The bank has taken this step to relieve people in lockdown due to Corona virus.

 SBI has taken this decision after the Reserve Bank of India (RBI) asked it to extend the moratorium on a three-month loan. Now the bank is seeking permission to advance EMI by sending SMS to its customers.

 No celery cut, no layoffs, gifts given to HINDALCO to employees in the crisis of corona

 Relief will be available till August
 At present, bank customers will get relief by repaying the EMI of the loan for three months. RBI Governor Shaktikant Das has announced an additional 3-month exemption on EMI payments. This means that the bank will not put any pressure on you if you cannot pay the loan EMI for the next 3 months. Let me tell you that this exemption was given from March to May. Now the relief in EMI has been extended till August.

Read to Gujarati

Report by zee24kalak
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Thursday, 7 May 2020

Big gift to SBI customers amid lockdown! An announcement made about home-auto-personal loan

New Delhi: The country's largest state-owned bank SBI (State Bank of India) has announced a reduction in interest rates, giving its customers large discounts amid a lockdown (SBI reduces lending rates by 15 bps). The bank has cut interest rates by 0.15 per cent. After the reduction, interest rates have come down from 7.40 per cent to 7.25 per cent. The new rates will apply from May 10. This is the 12th consecutive reduction in MCLR by the bank and the second time in the financial year 2020-21. Earlier in April, SBI had slashed interest rates by 0.35 per cent. (File image)
 New Delhi: The country's largest state-owned bank SBI (State Bank of India) has announced a reduction in interest rates, giving its customers large discounts amid a lockdown (SBI reduces lending rates by 15 bps). The bank has cut interest rates by 0.15 per cent. After the reduction, interest rates have come down from 7.40 per cent to 7.25 per cent. The new rates will apply from May 10. This is the 12th consecutive reduction in MCLR by the bank and the second time in the financial year 2020-21. Earlier in April, SBI had slashed interest rates by 0.35 per cent. (File image)
  Following this decision, EMI on loans based on MCLR will be reduced. The RBI cut the repo rate by 0.75 per cent in March to boost the economy amid the Corona virus. The name of the formula for determining the lending interest rate for banks is Marginal Cost of Fund Lending Rate. (File image)
 Following this decision, EMI on loans based on MCLR will be reduced. The RBI cut the repo rate by 0.75 per cent in March to boost the economy amid the Corona virus. The name of the formula for determining the lending interest rate for banks is Marginal Cost of Fund Lending Rate. (File image)
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  The formula determined by the banks by the RBI is based on the marginal cost of the fund. The purpose of this formula is to give the customer the benefit of lower interest rates. The aim is to bring transparency in the process of setting interest rates for banks. (File image)
 The formula determined by the banks by the RBI is based on the marginal cost of the fund. The purpose of this formula is to give the customer the benefit of lower interest rates. The aim is to bring transparency in the process of setting interest rates for banks. (File image)
  Since April 2016, the bank has been fixing lending rates at marginal cost under the new formula. At the same time, banks have to provide MCLR information every month. The rule introduced by the RBI will help make banks more competitive. And economic growth was also expected to benefit. (File image)
 Since April 2016, the bank has been fixing lending rates at marginal cost under the new formula. At the same time, banks have to provide MCLR information every month. The rule introduced by the RBI will help make banks more competitive. And economic growth was also expected to benefit. (File image)

Read to Gujarati..

Report by news18

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Wednesday, 5 February 2020

SBI Green loan: loan will be cheaper for car, learn other benefits

New Delhi: SBI has launched a special green car loan for electric vehicles. Yes, the country's largest bank State Bank of India (SBI) has introduced a new scheme keeping in mind the environment. Under this scheme, it is India's first green car loan launched for the purchase of electric cars. The initiative aims to promote the purchase of electric vehicles (EVs). Under this loan, customers will be given a loan for up to 8 years. So let us tell you about the specialty of this green car loan of SBI.

 Know the features of SBI Green Car Loan
 SBI will pay 0.20% less interest on green car loan.
 SBI's green car loan will have an 8-year repair period.
 The normal car loan of SBI has a repair period of 7 years.
 SBI car loan finances 90 percent of the on road price of the vehicle.
 At the same time, on-road price includes registration, insurance, extended warranty, total service package, annual maintenance contract, cost of accessories, etc.

 These documents are necessary for green loan
 To get a green car, the customer has to give his last 6 months bank statement.
 2 passport size photo will be required.
 Passport, PAN card, voter ID card, driving license and some other documents will be accepted as identity card.
 If you are employed, you have to give your latest salary slip and copy of Form 16 to buy the car.
 If there is a trader, he has to give his 2-year return.
 At the same time, land documents will have to be given to people associated with the agricultural sector.
 How much income, how much loan
 Government employees with a minimum salary of Rs 3 lakh can get a maximum 48 times of their net monthly income from SBI as a loan.
 Businessmen, professionals and private workers can get 4 times the gross taxable income or net profit after adding depreciation and payment of all loans in ITR.
 Individuals belonging to agriculture sector, whose annual income is minimum Rs 4 lakh, can get a loan of 3 times the net annual income.
 This is the interest rate for a car loan in SBI
 According to the information given on the SBI website, currently the interest rate of SBI's car loan is 8.40% to 8.65%.
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