I have taken Home Loan from SBI Ganges Garden Branch in July'2005 of Rs. 3.25 Lacs on floating basis vide A/c No 30009447151. Almost loan amount is being paid only about Rs.1.15 Lacs of principle is remaining but it is surpurising to see that interest rate is bacame higher & higher day by day. When I taken home loan it was 8.50% but now it is 12.75%.12.75% interest rate is not justify with any table chart of SBI HOME loan.
HOME LOANS - INTEREST RATES
All Rate are floating only (Base Rate= 10.00% p.a.)
Loan Amount Linkage with Base Rate over the tenor of the loan Effective Rate
Upto Rs. 30.00 lacs 0.75% above Base Rate 10.75% p.a.*
Above Rs. 30.00 lacs and upto Rs. 75.00 lacs 1.00% above Base Rate 11.00% p.a.*
Above Rs. 75.00 lacs 1.25% above Base Rate 11.25% p.a.*