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SBI Bridge Home Loan helpsbridging the financial gap between sale of existing property and purchasing a new property. This short-term loan comes with a repayment tenure of 2 years and competitive interest rate rages from 9.50% p.a. to 10.50% p.a. You can apply for a loan amount ranging from Rs.20 lakh to Rs.20 crore with this financing scheme.
Bridge loans are temporary loans that are used to bridge the gap between short-term fund requirements and long-term loans. It helps meet immediate cash requirements in the transitional phase of moving to a new home while your existing home is yet to be sold.
|1st year||9.50% p.a.|
|2nd year||10.50% p.a.|
|Resident type||Resident of India|
|Type of employment||Salaried and self-employed|
So, if you want to sell your existing property and buy a new one, getting an SBI Bridge Loan can work for you.
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