SBI Shaurya Home Loan June 2018 – Calculate EMI & Compare Interest Rate Online


SBI Shaurya Home Loan June 2018 – Compare and get lowest EMI on State Bank of India (SBI) Shaurya Home Loan on the basis of Rate of Interest, Loan Amount and Loan Term.

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The Government of India has launched a new scheme for a person who’s working or retired in defence. Employees who are serving in the Indian Army, Indian Air Force and Indian Navy can apply for the Shaurya Home Loan by SBI.

With the government deciding to implement the recommendations of the 7th Pay Commission on wage hike with effect from August 1, State Bank of India has introduced 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.

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“Under the new schemes, employees of central/state governments, defense forces, public sector banks, public sector enterprises of central government and other individuals with pensionable service will be offered home loans tailored to their specific needs,” State Bank of India (SBI) said in a statement. The bank said the tailor-made products will help customers purchase a spacious or luxurious home without stretching their post-retirement finances.

Eligible Applicants – Defense Personnel belonging to Army, Navy and Air force.

  • Reduced burden of servicing EMIs under the new schemes as lower EMIs would need to be serviced during the post-retirement term. This is because the EMIs to be serviced during the post-retirement term are capped at 50% of the current Net Monthly Income.
  • Extended repayment upto the age of 75 years as against 70 years under normal Home Loan scheme. The maximum loan term, however, shall remain capped at 30 years.
  • Full waiver of Processing Fee. Out-of-pocket expenditure such as Advocate’s Fee for Legal Opinion, Valuers Fee for Valuation Report, CERSAI and CIBIL charges will continue to remain applicable.
  • Benefit of lower interest rate as a concession of 5 bps over the Home Loan Card Interest Rate is available wherever check-off facility is extended by the Government under tie-up arrangement with the Bank.
  • Option for customers of other Banks / FIs to switchover their Home Loan outstanding balance to State Bank of India.


Borrowers’ category Home Loan interest rate, irrespective of loan limit EMI per Lac for 30 year Tenor Maxgain above Rs. 20 lacs & upto Rs. 1 crore Maxgain above Rs. 1 crore CRE Maxgain, irrespective of loan limit
Women 20 bps above the MCLR i.e. 9.35% p.a Rs. 830 30 bps above the MCLR i.e. 9.40% p.a. 55 bps above the MCLR i.e. 9.65% p.a. 75 bps above the MCLR i.e. 9.85% p.a.
Others 25 bps above the MCLR i.e. 9.40% p.a. Rs. 35 bps above the MCLR i.e. 9.45% p.a. 60 bps above the MCLR i.e. 9.70% p.a. 80 bps above the MCLR i.e. 09.90% p.a



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