State Bank of Patiala Home Loans Rates

State Bank of Patiala home loans rates are one of the best rates that you will find in the housing loan market in India. Whenever you feel the need of a suitable

housing loan to purchase/construct your dream home, you should think about State Bank of Patiala home loans.

About State Bank of Patiala home loans rates

State Bank of Patiala home loans rates are one of the most competitive and attractive rates that are now available in India. Rates have been formulated in such a way so that borrowers do not face any hassles in paying down their loans. There are two types of home loans that State Bank of Patiala offers and they are as follows:

1) SBP Advantage Home Loan Scheme over Rs.50 Lakhs

The scheme is applicable for housing loans over Rs.50 lakhs approved till 30th September, 2010. The rate of interest will remain fixed @8% per annum for the 1st year and @9% per annum for the 2nd and 3rd year. Subsequently, the interest rate will be imposed at the floating rate tied to the base rate (as applicable). You will not have to pay any prepayment penalty if you prepay the loan at the time of readjustment on the fourth year.

2) SBP Easy home Loan Scheme upto Rs.50 lakhs

The scheme is applicable for housing loans upto Rs.50 lakhs approved till 30th September, 2010. The rate of interest will remain fixed @8% per annum for the 1st year and @9% per annum for the 2nd and 3rd year. Subsequently, the interest rate will be imposed at the floating rate tied to the base rate (as applicable). You don’t need to pay any prepayment penalty if you prepay the loan at the time of readjustment on the fourth year.

The tables given below will give you a better idea about State Bank of Patiala home loans rates:

Housing Loans

Loan Amounts/Term	Upto 5 years	Over 5 to 15 years	Over 15 to 25 years
Home loan Floating	Product code (6250-6701)	Product code (6250-6801)	Product code (6250-6901)
Loan upto Rs.30 lacs	8.75 % (3.50% less than BPLR)	9.00% (3.25% less than BPLR)	9.25% (3.00% less than BPLR)
Over Rs.30 lacs and upto Rs.50 lacs	9.75% (2.50% less than BPLR)	10.00% (2.25% less than BPLR)	10.25% (2.00% less than BPLR)
Over Rs.50 lacs.	9.75% (2.50% less than BPLR)	10.00% (2.25% less than BPLR)	10.25% (2.00% less than BPLR)
Total Home Loan Floating	Product code (6250-7001)	Product code (6250-7101)	Product code (6250-7201)
Loan upto Rs.30 lacs	8.75 % (3.50% less than BPLR)	9.00% (3.25% less than BPLR)	9.25% (3.00% less than BPLR)
Over Rs.30 lacs and upto Rs.50 lacs	9.75% (2.50% less than BPLR)	10.00% (2.25% less than BPLR)	10.25% (2.00% less than BPLR)
Over Rs.50 lacs.	9.75% (2.50% less than BPLR)	10.00% (2.25% less than BPLR)	10.25% (2.00% less than BPLR)
Maxgain Floating	9.00	9.25	9.25
(6050-2101) Loan upto Rs.30 lacs	9.00 % (3.25% less than BPLR)	9.25 % (3.00% less than BPLR)	9.50 % (2.75% less than BPLR)
(6050-2101) Over Rs.30 lacs and upto Rs.50 lacs	10.00 % (2.25% less than BPLR)	10.25% (2.00% less than BPLR)	10.50% (1.75% less than BPLR)
(6050-2101) Over Rs.50 lacs.	10.00 % (2.25% less than BPLR)	10.25% (2.00% less than BPLR)	10.50% (1.75% less than BPLR)

Fixed interest rates

Upto ten years only (6250-2802) for Total Home loan fix	12.25% per annum
Upto ten years only (6250-2112) for Home loan fix	12.25% per annum

Griha Kaya Kalap

Griha Kaya Kalap (6250-7301)

8.75 % (3.50% less than BPLR)

9.00% (3.25% less than BPLR)

9.25% (3.00% less than BPLR)

The BPLR (Benchmark Prime Lending Rate) of State Bank of Patiala is 12.25%.

Processing fee for State Bank of Patiala home loans

Processing fee will be imposed @0.50% on the amount of loan, conditional on a ceiling of Rs.10,000. The processing fee comprises other surcharges as applicable. The modified processing fee will be applicable to housing loans offered under SBP – Maxgain and SBP – Realty Schemes.

Nevertheless, no processing charges will be imposed on loans offered under SBP Gram Niwas Schemes.