Begin typing your search above and press return to search.

SBI introduces FlexiPay Home Loan

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  2 Feb 2016 12:00 AM GMT


GUWAHATI, Feb 1: State Bank of India (SBI) has introduced a new Home Loan scheme, SBI FlexiPay Home Loan today. PVSLN Murty, Chief General Mager, NE circle distributed sanction letters to 3 beneficiaries on the occasion of introducing the scheme in North Eastern Circle at Local Head Office, Guwahati.

Speaking on the occasion, PVSLN Murty said, “SBI has been in the fore-front in bringing out innovating and most sought after Home Loan products such as Maxgain, Her Ghar, etc. The new offering, FlexiPay Home Loan, will eble young working professiols / executives to get higher loan amount compared to their loan eligibility under normal Home Loan schemes. The additiol loan amount will help such professiols in acquiring better and spacious living spaces for themselves and their families, taking into account their future needs. The interest rate of the loan will be normal and that is 9.5. Lower limit of the loan will be 20 lacs and the age limit is 21-45 age.”

He further added, “To lower the impact of such additiol loan amount on monthly repayments in the form of EMIs, the customers availing Home Loan under ‘SBI Flexi pay Home Loan Scheme’ will also be offered the option of paying only interest during the moratorium (pre-EMI) period of 3 to 5 years, and thereafter, pay moderated EMIs. The EMIs will be stepped-up during the subsequent years.”

The Bank has also provided the facility of getting instant approval to the applicants by applying online (

He also said that there are a total 702 number of branches in Northeast and 76,000 home loan accounts.

Murty also informed that SBI will soon open 7 highly sophisticated branches in the Northeast of which three will be established in Assam.

He also informed that the Home Loan Vehicle is operating in Jorhat, Silchar and Guwahati as well as in Agartala centre and on spot home loan is being provided.

The programme was attended by all top officials of the SBI, NE Circle.

Next Story