Kerala   

State Bank of Travancore

State Bank of Travancore’s stall at the “Kerala Property Expo 2007” organised by Kerala Builders Forum at the Marine Drive Grounds has been attracting huge crowds.

SBT has come up with a lot of new offers and concessions for their home loan customers during the festival period. The bank has waived processing charge for all the customers who will avail home loans up to 31st August 2007. There is reductionin rate of interest by 50 basis points across the board.

For a 60 months loan a customer has to pay only an interest of 10%. For loans repayable beyond 60 months and up to 180 months, the rate of interestcharged is only 10.50. Currently this is one of the most competitive rates available in the market.

The bank has decided to allow the repayment of the loan upto the age of 70 of the borrower. This will mitigate the hardship faced by middle aged borrowers who will be getting a longer period of repayment with a much lower EMI. SBT, the premier bank of Kerala is in a position to give on the spot in-principal sanctions to the prospective customers visiting their stall at the property expo as most of the major projects in and around Kochi are already approved by them after a detailed scrutiny of the builders. The bank has an innovative home loan product called SBT Maxgain. A customer availing this facility can operate their homeloan account as an overdraft.

They can deposit their temporary surplus funds to their home loan account which can be withdrawn when the need arises. This will help the customer to reduce their interest burden. The bank even issues ATM cards in such home loan accounts.

SBT does not charge any pre-closure penalty except for loan take over by other banks and insurance for the home loans are also arranged by them at attractive rates with SBI Life Home Loan Insurance.

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