Amid bad news for ICICI, HDFC Bank customers, SBI makes big announcement, set to affect many customers due to….
SBI said this will benefit customers with floating-rate loans. For them, EMIs could go down or their loan repayment tenure can also be shortened. Those planning to take a new home or car loan will also benefit from lower interest rates starting August 15, 2025.
The cut will benefit borrowers with floating-rate home loans, where interest rates fluctuate over time. For new borrowers, this is an ideal time to take a loan as interest rates are lower, resulting in reduced EMIs and easier repayment. Car loan applicants will also gain from this rate cut. SBI Launches Special Loan Scheme For Agniveers
State Bank of India on Thursday announced the launch of a special personal loan scheme for Agniveers under the Government of India's short-term Agnipath recruitment programme on the occasion of the 79th Independence Day.
Under this loan scheme, Agniveers with a salary account at SBI can avail loans up to Rs 4 lakh without any collateral and with a complete waiver of processing fee, the bank said in a statement.
The repayment tenure will align with the term of the Agnipath scheme, offering maximum flexibility and convenience to our nation's brave hearts transitioning from civilian life, it said.
In addition to this, the bank is offering the lowest interest rate of flat 10.50 per cent to all defence personnel till September 30, 2025, it said.
(With Inputs From PTI)
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