Types of SBI Loans

by Gil on June 21, 2011

State Bank of India or SBI bank is one of the biggest banking businesses in India that provides diverse services and products to cater the needs of people in different sector of the society. The bank also offers wide variety of loans that is helpful to people especially in times of needs. SBI loan can be easily applied for especially if you have an active account in the bank.

Types of SBI Loans in India

There are several kinds of loans a customer can apply for in SBI which you can see in the list below.

Home Loan

This type of loan can give you the opportunity to acquire a new house without the need to spend huge amount of money in one time.

Car Loan

If you want to own a car but you do not have a big amount of cash on hand, then a loan can help you get your dream car.

Education Loan

It is not easy to get a big amount of cash especially during enrolment period. If you are encountering financial problem and you need to enrol your kids to school, then you can apply for an educational loans at SBI for your children.

Business Loans

This kind of loan is for people who want to start their own business but do not have enough capital to do so.

Personal Loans

This type of loan is for personal use. You can buy things that you need for yourself with the use of this SBI loan.

SBI Loan Rates

All banks today have kept a benchmark rates when it comes to hone loans and commercial loans. SBI bank kept their rate very low despite of this benchmark that is why this bank is preferred by many people than other banks in India.

SBI recently slashed their home loan rates and this will be very helpful for all first time home buyers who want to acquire their dream home. The prices of properties have decline overtime due to the global recession period. This phenomenon will benefit both parties because consumer can get the home that they want and still pay for lower interest rate.

This is also beneficial to the banks because despite of the recession, they will be able to sell home loans. SBI is very good in checking the job security of their applicants because there are many recent job losses due to this recession period.

Although SBI loan is the best loans in India today, you still need to check the interest rate before you grab any offer from any bank which you want to apply for a loan.

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