Loan for personal Home at Low Intrest rate

SBI has cut processing fees on home loans by half, a move expected at acquire a bigger tart in the home loan market and giving competition to private banks and housing finance companies. "The decision is meant at creating goodwill. With regards to fees charged from retail customers, SBI will charge only to the extent of covering its cost and not earn profit on it,". The bank has reduced processing fee on home loan above Rs 75 lakh to Rs 10,000 from Rs 20,000. For loans in the range of Rs 30 to Rs 75 lakh, the fee has been lowered to Rs 6,500 from Rs 10,000 earlier. The processing fee for loan below Rs 30 lakh continues to be 0.25% of the loan amount. The new charges will be effective from January 11. Axis Bank and ICICI Bank charge 0.5% of the loan amount sanctioned as processing fee, while housing finance leader HDFC charges 0.50% of the loan amount with a cap of Rs 10,000. So, on a loan of Rs 50 lakh currently, SBI's processing fee would be the cheapest...

Considering the potential in the education loan segment, HDFC Bank will target this segment through Credila financial services which specializes in education loans. The bank has 41 percent stake in the organization, reports Rupee Times. Renu Sud Karnad, Managing Director, Housing Development Finance Corporation (HDFC) said, "Credila is a tiny company today. But in the coming years, we want to push education loans through it. We see a good market for loans for college education. We want to use the HDFC expertise to see quick turnaround times." She denied any plans of HDFC going for a stake sale in HDFC Bank in the upcoming financial year. Temporarily, the bank has denied any possibility to follow the path of SBI , as SBI extended its teaser home loan season till April 30. The bank had stopped its teaser loan scheme earlier in March this year and has no plans in the near future to come back with teaser home loans .

The government today introduced the State Bank of India (Amendment) Bill in Parliament to give SBI more leeway to raise capital from the market through preference shares, bonus shares and private placement of shares. The Bill proposes to bring down the minimum government shareholding in the country’s largest bank to 51 per cent from the 55 per cent prescribed in the existing law. The Bill, presented by Finance Minister Pranab Mukherjee in the Lok Sabha, proposes to increase the authorised capital of SBI to Rs 5,000 crore, enabling the government to increase or reduce it in consultation with the Reserve Bank of India. “The Bill proposes to amend the SBI Act to allow the issued capital of the State Bank to be raised by preferential allotment of shares or private placement or public issue or rights issue,” the finance minister said while introducing the Bill. At present, the Centre holds 59.41 per cent in SBI. The bank does not have much headroom to raise capital by diluting the gover...