SBI cuts home, car and retail loan rates

mtnrajdeep · 29th October 2007, 15:39

I got an interest rate of 10.6% on a loan amount of 6 lacs for a term of 5 years from HDFC

Technocrat · 29th October 2007, 15:44

That sounds really low fora Maruti. Whats your EMI Per lac ?

abhilash_iv · 29th October 2007, 16:32

The news says that the interest rate is for new loans. What about the existing customers? I have taken SBI home loan and car loan based on a flexible interest scheme. Home loan interest increased to 10.25 from 7.75 in last 2 years. Will this reduction, reduce my interest rate?

Technocrat · 29th October 2007, 18:02

There was an article on this, they say the lower rates are actually discounts on the existing rate & hence no reduction for existing users.

29th October 2007, 15:39	#16
mtnrajdeep BHPian Join Date: Feb 2006 Location: Bangalore Posts: 904 Thanked: 338 Times View My Garage	I got an interest rate of 10.6% on a loan amount of 6 lacs for a term of 5 years from HDFC
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29th October 2007, 15:44	#17
Technocrat Senior - BHPian Join Date: Feb 2004 Location: GTA Posts: 14,813 Thanked: 2,700 Times	That sounds really low fora Maruti. Whats your EMI Per lac ?
	() Thanks

29th October 2007, 16:32	#18
abhilash_iv BHPian Join Date: Nov 2005 Location: Kochi Posts: 216 Thanked: 15 Times View My Garage	The news says that the interest rate is for new loans. What about the existing customers? I have taken SBI home loan and car loan based on a flexible interest scheme. Home loan interest increased to 10.25 from 7.75 in last 2 years. Will this reduction, reduce my interest rate?
	() Thanks

29th October 2007, 18:02	#19
Technocrat Senior - BHPian Join Date: Feb 2004 Location: GTA Posts: 14,813 Thanked: 2,700 Times	There was an article on this, they say the lower rates are actually discounts on the existing rate & hence no reduction for existing users.
	() Thanks