SBI offers up to 30 basis points interest concession on home loans
SBI said its interest rate on home loans start from 6.80 percent for loans upto Rs 30 lakh and 6.95 percent for loans above Rs 30 lakh.
January 08, 2021 / 01:54 PM IST
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State Bank of India (SBI) has announced interest concession up to 30 basis points (bps) on home loan interest rates, and a 100 percent waiver on processing fees.
"With an aim to offer attractive concessions to the home buyers, country’s largest lender, State Bank of India (SBI) announces further interest concession of upto 30 bps on home loans and 100 percent waiver on processing fees," the lender said in a statement.
SBI said its interest rate on home loans start from 6.80 percent for loans up to Rs 30 lakh and 6.95 percent for loans above Rs 30 lakh. The interest rate is linked to CIBIL score.
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The bank said interest concessions up to 30 bps are available in eight metro cities, on loans of up to Rs 5 crore
Women borrowers get a concession of 5 bps, and digital sourcing attracts further concession of 5 bps, SBI said.
"We are pleased to improve our concessions to prospective home loan customers upto March'21. With SBI's lowest interest on home loans, we believe this move will facilitate and encourage home buyers to take the home buying decision with confidence," CS Setty, MD (Retail & Digital Banking), SBI said in the statement.