A "low interest" loan shouldn't mean you have very little interest in paying it back!
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.
| Tenure | Interest Rate |
| 1st year | 9.50% p.a. |
| 2nd year | 10.50% p.a. |
| Resident type | Resident of India |
| Age |
|
| 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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