7th Pay Commission: SBI offers Home loans to Govt Employees at Lower Interest Rates

State Bank of India has announced cheaper home loan schemes for defence personnel and Central government employees, keeping in mind their enhanced capacity to repay after the recent salary hike accepted by the NDA government.

The launch of ‘SBI Privilege Home Loan‘ and ‘SBI Shaurya Home Loan‘ products is timed with the notification of 7th Pay Commission.

Features of the Schemes are:

1. Flexibility to Government employees on repaying home loan up to the age of 75 years.
2. Privilege home loan scheme for Govt Employees, Shaurya home loan scheme for Defence personnel with pensionable service.
3. Concession of .05% on regular home loan interest rates.
4. Zero Processing Fees
5. “Surplus income can thus be utilised by government employees and defence personnel towards purchase of new/ better house.