SBI Reduces Home Loan Interest Rates to 6.70%

MUMBAI:
The country’s largest lender, State Bank of India (SBI) has sweetened the offers on Home Loans and now offers interest concession of upto 70 bps with interest rates starting from 6.70% onwards (limited period offer ending on 31 st March’21). The lender is also giving 100% waiver on processing fees. The interest concession are based on loan amount and CIBIL score of the borrower. SBI believes that it is important to extend better rates to customers who maintain good repayment history.

SBI, being the market leader in home finance, takes ownership in bolstering consumer sentiments. The affordability for the consumer increases immensely with the present offerings as the EMI will be reduced.

SBI Home loan interest rates are linked to CIBIL score and start from 6.70% for loans upto 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.

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.”