Fresh home loan schemes offered by SBI

 SBI has recently launched two new home loan schemes, SBI Easy Home Loan and SBI Advantage Home Loan, with processing fee for both but the bank has postpone till September 30. While, SBI's Easy Home are meant for those who take loans up to Rs 30 lakh at an interest rate of 8% annum for the first year and 9% fixed for the next two years. From the fourth year onwards, the customer can choose either a floating rate of 2% below SBI's advance rate (SBAR) or a fixed rate of 1% below SBAR with a five-year reset option, a release from the bank said.

The second offer which is premium offer, SBI Advantage Home, is for home financing above Rs 30 lakh at 8% per annum fixed rate for the first year and 9.5% fixed for the next two years. From the fourth year onwards, one can choose between a floating rate at 1% below SBAR and a fixed rate of 0.5% below SBAR with a five year re-set clause.