SBI slash Interest Rates on Home Loans, also some other relief announced

The State Bank of India has announced a concession of 70 basis points, or about 0.7 per cent, in home loans based on CIBIL score. This has reduced SBI Home Loan Rates to a minimum of 6.70 interest rates.

No processing fees

The bank said that the SBI Home Loan Rates will remain for only till March 31, 2021. In addition, the bank has also announced a 100 per cent processing fee waiver by March 31, i.e., no processing fee will be paid to home loan borrowers by the end of March.

Who will get concessional rate

The bank also said that the concessional rate will be available to those who have a good score in CIBIL. The bank has linked its interest rate concession to cibil score.

“SBI believes that customers with good payment history should be provided with better rates,” the bank said in a statement. SBI remains the leader of the market in home finance. With the existing offer, it will be very costly for customers to take a loan, as the EMI will be reduced,” he said.

This will be the rate

Sbi customers will now have to pay the lowest interest of 6.7 per cent on home loans up to Rs 75 lakh in terms of CIBIL score. Similarly, the cheapest rate for houses above Rs 75 lakh will be 6.75 per cent.

Customers who apply with SBI’s YONO App will also get an additional 5 basis points i.e. 05 per cent concession. The bank has also announced a 5 basis point concession for women customers.

So, hurry up, take advantage of the concessional rates of SBI on Home Loans and save on interest amount. If you need any clarification about SBI Home Loan Rates, please visit SBI site or visit your nearest branch. You can also search customer care numbers on site for contacting them.

Source : aajtak

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