NewZNew (Chandigarh) : State Bank of India (SBI), the largest Home Loan lender in the country, has introduced a new Home Loan scheme ‘SBI FlexiPay Home Loan’. 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, ‘SBI FlexiPay Home Loan’, will enable young working professionals / executives to get higher loan amount compared to their loan eligibility under normal Home Loan schemes. The additional loan amount will help such professionals in acquiring better and spacious living spaces for themselves and their families, taking into account their future needs.
Further, to lower the impact of such additional loan amount on monthly repayments in the form of EMIs, the customers availing Home Loan under ‘SBI FlexiPay 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.
Soaring aspiration levels and rising awareness about the impact of quality living spaces on healthy and harmonious living are resulting in our newer generation of working professionals to show greater preference for better and larger homes. But they are constrained from purchasing their dream homes due to the relatively lower income available at early stage of their career. Recognizing the special needs of this growing aspirational segment, and to bridge the gap between affordability and demand for quality residential spaces in the country,
The FlexiPay Scheme is a special product targeted at working professionals, which helps them to buy a better and spacious home without stretching their finances. More details about the product are available on Bank’s website www.sbi.co.in.
The Bank has also provided the facility of getting instant approval to the applicants by applying online (https://onlineapply.sbi.co.in).