Last year, I bought a piece of land to construct my house, so I opted for the SBI Realty loan. A few weeks before that, I wasn’t even aware of the fact that there was something called Realty Loans. My uncle, who works in a bank, told me to go for that and informed me that the current SBI realty loan interest rate was pretty low.
He told me that if I choose a term loan, the interest rate would be 9.45% and if I choose a Maxgain loan, it would be 9.65%. He provided me with a few more details about the loan.
SBI Realty Loan Rate of Interest
My uncle said that the interest rate for realty loans depends on the credit score of the person applying. For someone with a credit score of 750+, the SBI realty home loan interest rate for term loans is 9.45%, and for Maxgain is 9.65%. The interest rate increases as the credit score goes down. To know about those you can refer to this official
SBI Realty Home Loan Interest Ratedocument.
Eligibility Criteria of SBI Realty Home Loan
He told me that the minimum age to avail of this loan is 18 years, and at the time of maturity of this loan, he/she should be below 65 years of age.
CIBIL should be high, and you need to be a resident of India.
The loan needs to be paid off within a tenure of 10 years.
The construction of the house should be completed within 3 years from the date of sanction.
Hopefully, this information about SBI realty loan interest rate will be of help to you.
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What Is SBI Realty Loan Interest Rate?
Ruben
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2024-01-31T23:30:21+00:00 2024-08-06T14:59:38+00:00Comment
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