Many Sheltered So far under NTR Urban Housing Scheme

NTR Housing Scheme

NTR Urban Housing Scheme was introduced in the year 2016-17 as a pilot project in Eluru, Tadepalligudem, Palakol, and Bhimavaram to provide houses to economically backward classes. The NTR Urban Housing Scheme is under implementation in Eluru, Tadepalligudem, Bhimavaram, Jangareddigudem, Kovvur, Nidadavole, Tanuku, Palakol, and Narsapur town.

Who are Included in the Scheme

NTR Urban Housing Scheme covers all those individuals who have White Ration Card and also those who Never Applied for any Other Housing Scheme.

Benefits So Far

So far, many have been benefited from this NTR Housing Scheme which includes families residing in rented houses.

5,000 houses were sanctioned in the year 2017-18.

Subsidy of Rs. 2.5 lakh will be given to the beneficiaries that will be borne by the Central and State

Government in 50:50 ratio.

Flats are being provided to the poor under the guidance of Housing Board by AP TIDCO (Township and Infrastructure Development Corporation) Urban Housing.

About Rs. 1500 crore have been invested in the same in the Delta Region.

Construction of Multistoried flats begun in July and is expected to get complete by October.

22,000 Houses were sanctioned in Tadepalligudem, Palakole, and Bhimavaram. Of these, 20,000 flats have already got completed.

 

SBI Increases MCLR by 10 Basis Points

SBI MCLR Rate June 2018

With effect from June 1^st, 2018 State Bank of India has increased it Marginal Cost of Lending Rate by 0.10% across all tenure periods. It is the second time that an hike in MCLR has been done by SBI; the previous hike was in March, 2018.

EMIs on loan comprises of loan repayment plus interest payable on the loan. An increase in MCLR, increases the amount payable as EMI unless the bank reduces its mark-up margin in loans.

As per the guidelines of the Reserve Bank of India, all loans including home loans taken after April 1, 2016 are linked to the Marginal Cost of Lending Rate.

Read the table below to know about the percentage of increase in MCLR by State Bank of India.

Tenor	MCLR as on March 31st, 2018 (%)	MCLR from June 1st, 2018 (%)
Over night	7.8	7.9
Over month	7.8	7.9
Three Month	7.85	7.95
Six Month	8	8.1
One Year	8.15	8.25
Two Years	8.25	8.35
Three Years	8.35	8.45

State Bank of India is known to be India’s Largest Bank and Fortune 500 Company that has been offering financial services to eligible customers since 1973. The Bank extends funds in the form of Housing loan, Car loan, SBI Personal Loan, Loan Against Property, Education loan under Personal Finance. SBI is the leading lender and is the most sought after bank for all kinds of loans.