SBI Reduces Home Loan Interest Rates To 6.70%
The country’s largest lender, State Bank of India (SBI) has reduced home loans interest rates. The lender is now offering a concession of up to 70 basis points (bps) with interest rates starting from 6.70% onwards.
The limited period SBI offer will continue till March 31, 2021. The lender is also giving 100% waiver on processing fees. The interest concession are based on loan amount and CIBIL (Credit Information Bureau – India – Limited) score of the borrower, SBI said.
SBI home loan rates are linked to CIBIL score and start from 6.70% for loans up to Rs 75 lakh and 6.75% for loans above Rs 75 lakhs. “Customers can also apply from the ease of their home via YONO App to get additional interest concession of 5 bps. On the eve of International Women’s day, a special 5 bps concession is being made available to the women borrowers,” SBI stated.