SBI reduces home loan interest rates to 6.70%

2021-03-01 08:14:11

NEW DELHI: 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 in a release.
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.

Saloni Narayan, DMD (Retail Business), SBI said, “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.”

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