SBI advances on unveiling cheaper home loans for government employees

State Bank Of India | Bank - Public | BFSI | BSE: 500112 | NSE: SBIN

02 Aug 2016 Evaluate

SBI is currently trading at Rs. 229.20, up by 1.75 points or 0.77% from its previous closing of Rs. 227.45 on the BSE.

The scrip opened at Rs. 229.55 and has touched a high and low of Rs. 230.55 and Rs. 228.15 respectively. So far 2,49,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 291.85 on 05-Aug-2015 and a 52 week low of Rs. 148.30 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 235.00 and Rs. 225.65 respectively. The current market cap of the company is Rs. 1,78,078.00 crore.

The promoters holding in the company stood at 60.17%, while Institutions and Non-Institutions held 28.33% and 9.66% respectively.

State Bank of India (SBI) has unveiled new home loan products for Central/ State government/ public sector undertaking employees and defence personnel, whereby they will get the benefit of repaying the loan over a longer period and at softer interest rates. This step has been taken pursuant to government deciding to implement the recommendations of the 7th Pay Commission on wage hike with effect from August 1.

For the 7th Pay Commission report beneficiaries, SBI will offer two new home loan products ‘SBI Privilege Home Loan’ for government employees and ‘SBI Shaurya Home Loan’ for defence personnel and that too without charging any processing fee.

The borrowers under the two schemes will enjoy an interest rate concession of five basis points over the Home Loan Card Interest Rate. They will have the flexibility of repaying home loans up to the age of 75 years.

SBI Share Price

973.50 -46.05 (-4.52%)

11-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
SBI	973.50
PNB	104.70
Canara Bank	129.35
Bank Of Baroda	266.00
Union Bank Of India	163.80
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