Beware the quantum computers
Today’s encryption technology will be putty in the hands of those running the post-quantum world. How equipped ...
In a clear signal that soft interest cycle for home loan borrowers is over, State Bank of India (SBI) has hiked the minimum interest rate on home loans by 25 basis points (bps) from 6.70 per cent to 6.95 per cent with effect from April 1, 2021.
This hike in minimum home loan rate by SBI will prompt other lenders to follow suit.
SBI had lowered the minimum interest rate from 6.80 per cent to 6.70 per cent on March 1, 2021 for a limited period up to March 31, 2021.
The Bank will also charge a consolidated processing fee. This will be 0.40 per cent of the loan amount plus applicable GST, subject to a minimum of ₹10,000 and maximum of ₹30,000 plus GST.
However, for builder tie-up projects where individual TIR (title investigation report) and valuation is not required, the processingaforementioned fee will be 0.40 per cent of loan amount subject to maximum recovery of ₹10,000 plus applicable tax. And, if TIR and Valuation is required, then normal charge will be applicable., as per the Bank’s website.
The lender had waived home loan processing fees till March 31, 2021.
In February, the Bank said it expects to double its home loan portfolio in the next five years to Rs ₹10 lakh crore on the back of higher economic growth and growing preference of the new generation to buy a home early.
SBI took about 10 years to grow its home loan portfolio from ₹89,000 crore in FY2011 to touch the ₹5 lakh crore mark, Chairman Dinesh Kumar Khara told media in February 2021.
SBI took about 10 years to grow its home loan portfolio from ₹89,000 crore in FY2011 to touch the ₹5 lakh crore mark, Chairman Dinesh Kumar Khara told media at a press meet in February 2021.
Today’s encryption technology will be putty in the hands of those running the post-quantum world. How equipped ...
Rocketship’s Anand Rajaraman on getting pitches from places like Rameswaram and Patna
Bengaluru-based Archeron group plans to open five banks that are run entirely by AI and quantum technologies
Ably skippered by N Srinivasan, India Cements is upping its post-Covid-19 game by expanding capacity
Three-in-one: Passive debt funds come at a low cost and have high-quality portfolios. Some offer return ...
Trend in the rupee movement and Q4 earnings can give direction to the market
There is room for improvement in fund transfer options
Silver looks positive but lacks the higher volumes required to substantiate bullishness
In an age of falling female workforce participation, worsened by the Covid-19 pandemic, policy makers and ...
An ode to writer and great-uncle Ved Mehta, and Ekarat, the friend who wrote and quit on his own terms
A market run by women tells the inspiring story of female entrepreneurship in the North East
Murder is a theme that is unlikely to darken and yellow with time, the writer Truman Capote had once said.
Marketers are padded up, sponsorship deals have been struck, and campaigns are rolling out. Now let the games ...
And what marketers can possibly do to bring it back in our lives
The agency has changed form over the years but its lustre has not dimmed
Media Factory has purchased the majority stake held by Sam and Lara Balsara of Madison World in Madison Media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...