Mar 12, 2009 12:53 PM
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SBI - FLEXI a customized product designed to enable borrowers to hedge their home loan against unfavorable movement in interest rates.the products gives you a one time irevocable option to choose one of thhe three customised combination of fixed and floating inetrest rates and also to choose the order in which the fixed and floating rates be availed.
SBI-MAXGAIN An innovative and customer frindly product to enable you to earn optimal yield on your savings and minimize interest burden on home loans, with no extra cost. the loan is granted as an over draft facility with the added flexibility for you to operate your home loan accouont like your SB or current Account. the preduct serves to minimise your interest cost by enabling you to park your surplus funds in SBI -Mazgain ( with the benefit to withdrew the surplus funds whenever you require ), specially in the wake of low yields from other deposit/investments avenues.
UNIQUE FEATURE 1. end to end service. 2.SBI branch of your choice 3.interest charged on daily reducing balance 4.no penalty for payment made, out of bonafide savings or windfall gains for which evidence is produced. 5.no hidden cost. and the list goes on. PURPOSE OF LOAN 1.purchase / construction of house or flat 2.purchase of plt of land 3. purchase of furnishing and consumer durables as a part of project 4.extension/construction/repair/renovation of an exsisting house or flat its good for those who want to take a home loan but are afraid of fluctuating market. this makes you enable to choose from a good option of interchange between the types of rates selected at the time of taking the loan.
