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Thursday, 8 July 2021

5 type of cheapest Loan available in SBI Bank

Get Loans up to 50,000 at 2-3% monthly APR rate and repay in 6 months

Get Personal Loans up to Rs.50,000 from Branch at 24%-36% interest rate and repay in 61-180 days.

Branch is the simplest and most secure way to borrow, save, and improve your financial health all from the convenience of your phone. Branch Personal Finance app is operated by Branch International financial services which is an RBI registered NBFC. Branch is secure and regulated by all laws as dictated for NBFC by RBI making it 100% secure for users.

PERSONAL LOAN RATES AND FEES

Loan Amounts: INR 750 to INR 50,000
APR/Interest rate: 24%-36% (Monthly interest: 2% to 3%)
Processing fee: 2% onwards

Terms: Depending on your loan amount for which you are eligible, you have the option to choose repayment terms for up to 336 days. Every loan amount we offer has the option to repay in a minimum of 60 days.

The amount would be directly deposited on your bank account.

Branch also offers a free credit score report(powered by CIBIL) which will be sent directly into your email. We also provide pointers to improve your scores month on month.
Get access to Free Credit Score and Free Credit Report only on Branch. You will get your free Cibil report and Cibil score mailed directly to your email ID.

KEY BRANCH FEATURES: FINANCIAL ACCESS IS JUST A TOUCH AWAY

The Branch app lets you apply for personal loans, save funds, or monitor your financial health on the go.

* No late charges or rollover fees on loans
* No paperwork, collateral or office visits needed
* Free Credit Score checks
* Easy access 24/7
* Quick and easy sign up
* Use your money the way you want to -- for home or business
* Lower fees, and flexible payment terms as you repay

Questions? We provide world-class support for your financial needs, 24 hours a day. Message us within the app and receive an answer in minutes!

Branch personal finance app provides the following type of personal loans
- Medical Loans/Emergency Hospitalisation Loans
- Shopping Loans
- Home Renovation Loans
- Consumer Durable Loans (home appliances)
- Education Loans
- Vehicle Loan (2/4 wheeler loans)
- Travel Loans
- Wedding/Marriage Loans
- Student Loans

Home loan
SBI is currently lending at only 6.70 per cent. But it is the lowest rate and can vary depending on your property and Sibyl.

Car loan
SBI Bank is currently offering loans at an interest rate of 7.50 per cent. The special thing is, SBI offers car loan facility up to 85 months, which means you can easily repay your car loan gradually.

Overseas Education Loan
Apart from that, if you are planning to study abroad and want to take a loan, you will have to pay EMI at an interest rate of 9.30 per cent.

Pre-approved personal loan
In Pre-Approved Personal Loan you will have to pay interest at the rate of 9.60. It is much less than other banks.

Gold loan
Gold loan at the rate of 7.50 is being given by SBI. A loan of up to Rs 50 lakh can be taken from a bank by pledging gold. You do not have to do much paperwork to get this loan which is why it is a good option for managing money.


*Pre Application Services - 

Product information, approved projects, branch locator, calculators, virtual tour, FAQs, get a call back, etc.
*Online Application - Get quote, view and customize quote, submit application and get instant approval-in-principle letter
*Post Application Services - Track application, download pre-filled application, schedule appointment with the Bank and upload photograph/KYC/income/property documents
*Post Sanction Services - Scheduling an appointment for execution of documents and submit feedback on SBI home loan processes


5 type of cheapest Loan available in SBI Bank


Personal Loan

In today’s day and age we all attempt to live our life to the fullest. Infact, we often face challenges to fulfil a specific financial need or desire beyond our capacity. Be it wedding expenses, funds for an emergency, paying off medical expenses or any other payments, you will want to ensure that you have the perfect opportunity to make all your dreams come true. For these visions and much more, we give you the perfect solution to live life your way—Personal Loan.

Home Loan

Home loan/Housing Loan is a lump sum amount of money borrowed from any financial or banking institutions to buy a house. Home loan consists of two types of interest rates named as fixed and floating interest rates. As per the chosen interest rate, consumer repays the loan in form of EMIs for the desired tenure.

5 type of cheapest Loan available in SBI Bank

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Education Loan

There are numerous banks which offer loans specifically for students who aim study and for those who aim to study abroad. This distinction in the loan has been made keeping in mind the different financial needs that arises from studying in India or studying abroad.

Car Loan

There was a time when owning a car was a luxury not all could afford to have. Buying a car was a life milestone for everyone who could shell out those huge amounts of money all at once to buy their dream car. With growing times, changing demographics and emerging car loan lenders, for a majority of the Indian middle class, owning a car today is no longer a luxury, but in fact a necessity made possible by taking a car loan.

Credit Card Loan

The uses of credit cards are many. Starting from cashless transactions to reward points and special deals, you can use credit card anywhere across the globe. Also, cardholders can avail pre-approved loans on credit cards within or over their credit limit. Similar to the usual loan schemes, the issuer essentially loans you the amount which you will be able to repay at a later date while being charged a definite interest rate.

Bikes Loan

If you’re looking to take a loan to buy a motorbike, check out the various two-wheeler loans available to you. Take a look at some of the banks that offer you these loans. Compare interest rates, processing fees, and your EMIs. Install App on to find out the best option for you.

Business Loan

Businesses need ample amount of investment to fund for start-up expenditures or pay for business extensions. For such purposes, companies take out business loans for their financial assistance. It is a debt which a company is obligated to pay back within a specific tenure according to the terms and conditions of the granted loan. Start-up Business loans can be taken for a variety of essential requirements like starting up a new firm, business expansions, dealer and vendor financing etc.
Gold Loan
When a customer pledges gold (including jewelry, ornaments and bank-issued coins) as collateral for taking a loan, it is known as a gold loan. The bank/lender uses the gold as security against potential payment default by the customer. The loan amount sanctioned is a certain percentage of the value of the gold that has been pledged.

SAFE AND SECURE LOANS

Branch app makes getting a personal loan simple by using the data on your phone including your SMS history to verify your identity and create a credit score. We encrypt the data you choose to share with us to protect your privacy. We take your privacy very seriously and promise to never share your information with third parties.

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