SBI loan interest rates as on Sep 15, 2022

 SBI has not yet revised the minimum interest rate on home loans in September. Effective August 15, 2022, the bank’s EBLR is 8.05%+CRP+BSP, as per the SBI website. RLLR is 7.65%+CRP.

However, depending on the credit score, a risk premium will be charged. This means a borrower with a credit score of more than 800 will now pay a minimum rate of 7.55 percent under the regular home loans.

For applicants who have a credit score of 800 or higher, the minimum interest rate on regular home loans is 8.05 percent. The risk premium in this case is 0. The risk premium is based on the CIBIL score; the risk premium rate increases with a lower credit score.

A credit score of 750 to 799 will result in a 8.15 percent interest rate with a risk premium of 10 basis points. Female borrowers will receive a 0.05 percent interest rate reduction.

Borrowers will be compelled to pay higher interest rates, i.e. higher EMIs, once the reset date arrives, or their loan tenure would be extended if there is room for it.

SBI Benchmark Prime Lending Rate BPLR

The banks Benchmark Prime Lending Rate (BPLR) was hiked to 13.45% p.a. w.e.f. 15.09.2022.

Comments

Post a Comment

Popular posts from this blog

How are Home Loan Interest Rates Determined

 Borrowers should possess a thorough knowledge of the key factors influencing home loan interest rates in India before applying for this credit option. Thanks to the easy availability of home loans, people can now fulfil their dreams of owning a home. Furthermore, the high-value loan amount and the competitive home loan interest rates have made this credit facility popular among homebuyers in India. The monthly instalments and borrowing costs are significantly impacted by interest rates. Therefore, borrowers should possess a thorough knowledge of the key factors influencing  home loan interest rates in India before applying for this credit option. How Do Financial Institutions Determine the Home Loan Interest Rates Lending institutions consider the following factors while determining the home loan interest rates for a particular borrower: Location of the property The property’s location also impacts the interest rates on a home loan. If a property is located in a posh location with am
Read more

SBI Cards shares up 0.78% as Nifty gains

 SBI Cards and Payment Services Ltd. traded 0.78 per cent up in Monday's trade at 12:28PM (IST). Around 123,822 shares changed hands on the counter. The counter opened at Rs 810.0 and touched an intraday high and low of Rs 818.0 and Rs 805.4, respectively, in the session so far. The stock of  SBI Cards  and Payment Services Ltd. quoted a 52-week high of Rs 1028.75 and a 52-week low of Rs 656.1. Total market cap of the SBI Cards and Payment Services Ltd. stood at Rs 76658.91 crore at the time of writing this report. Key Financials The company reported consolidated net sales of Rs 3453.32 crore for the quarter ended 30-Sep-2022, up 5.84 per cent from previous quarter's Rs 3262.85 crore and up 28.12 per cent from the year-ago quarter's Rs 2695.46 crore. The net profit for latest quarter stood at Rs 525.64 crore, up 52.4 per cent from the same quarter a year ago. Shareholding pattern As of 30-Jun-2022, domestic institutional investors held 11.34 per cent stake in the firm, whil
Read more

TSSC partners with SBI Card for placement-linked skill development courses for women

 The centre is set to provide National Skills Qualifications Framework (NSQF) and National Curriculum Framework (NCF) aligned short-term courses in telecom service job roles. Telecom sector skill training provider TSSC on Monday said it has partnered with SBI Cards and Payment Services for placement-linked skill development courses to train 763 women over the next two years. Under this partnership, Telecom Sector Skill Council (TSSC) has launched a telecom centre of excellence (CoE) at the Government College for Girls Gurugram under a CSR initiative for women empowerment. The project will cater to 763 candidates over the span of two years beginning from September this year, the statement said. “The CSR project under this collaboration will be a pertinent boost in skilling the female youth and help them inculcate the spirit of self-reliance to explore new job roles. This crucial partnership with SBI credit Cards for CSR is yet another step forward to drive equality of opportunity for
Read more