India’s leading bank State Bank of India (SBI) on Monday, 1 March, announced a limited period 'home loan' offer. Under this offer, the bank has reduced the home loan interest rates.
The offer will provide a concession of up to 70 bps with interest rates starting from 6.70 percent onwards.
As per the official information, the limited period offer is scheduled to end on 31 March 2021.
For loans of up to Rs 75 lakh, home loan interest rates will start at 6.70 percent. Whereas, for loans in the range of Rs 75 lakh to Rs 5 crore, the interest rate charged will be 6.75 percent onwards.
Besides this, SBI is also providing 100 percent waiver on processing fees.
The interest concession provided will be based on the loan amount and CIBIL score of the borrower. The customers who will apply for the loan using ‘YONO’ app will get an additional interest concession of 5 bps.
SBI will provide an additional 5 bps concession to women borrowers.
"Our customers have complete trust in us because of our total transparency. The reduced interest rates are one of the best interest rates in home loans anyone can wish for," said Saloni Narayan, DMD (retail business), SBI.
(With inputs from IANS)
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