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Banks Offer Loan For DDA Housing Scheme 2010

As the days for DDA Housing scheme 2010 is coming to a close, many banks have started offering loans for DDA Housing scheme 2010. The two public sector banks which have taken the initiative in this regard include State Bank of India and Central Bank of India. Axis Bank has also joined the race and as more banks are entering the foray, interest war is becoming hot.


On 1st December, 2010, State bank of India declared that the monthly installment for the finance amount Rs 150,000 gets reduced from Rs 5100/ to Rs 4600/. For a loan amount of Rs 50,000 the total monthly expense will be Rs 1600 only for the flats of DDA Housing scheme 2010.

Bank Interest and Charges on Rs.150,000 Earnest Money Finance

Bank Interest Rate % Intt for Amt Rs.1,50,000

(for 4 months)

Processing Fee

Rs

Stamp

Rs

Total

Rs

Rematks
Central Bank Of India 8.5% 4300 221 4521 Processing Charge waived if SB a/c with CBI
Bank of India 8.5 % 4782( Intt for 4 and Half Months) Nil 4782 May revise and get 4 months Intt
State Bank of India 8 % 4500(Inclusive all charges) 500 100 4600 Revised on 01.12.2010
Axis Bank 8.25% 4860 (4 Months)package Included in package 4860 4.12.2010

Bank Interest and Charges on Rs. 50,000 Earnest Money Finance

Bank Interest Rate % Intt for Amt Rs.1,50,000

(for 4 months)

Processing Fee

Rs

Stamp

Rs

Total

Rs

Rematks
Bank of India 8.50 % 1594(Intt for 4 and half Months) Nil 1594 May revise and get 4 months Intt
Central Bank Of India 8.5% 1434 221 1655 Processing Charge waived if SB a/c with CBI
State Bank of India 8 % 1500(Inclusive All) 100 1600 Revised on 01.12.2010
Axis Bank 8.25% 1890 (4 Months)package Included in package 1890 4.12.2010
JIT Mukherjii
After completing his MBA in Financial Management, he decided to shift to writing and took it as his full time career. Being the Editor-in-chief of this web magazine, he has got diverse interest in the field of politics and business related matters.

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