Good news! SBI Makes Home Loan Cheaper, Offers Additional Benefits

India’s largest government owned bank ‘State Bank of India’ has recently come up with many new offers and schemes for its customers.  

As per reports, the State Bank of India has sweetened the offers on home loans for its borrowers and now offers interest concession of up to 70 bps with interest rates starting from 6.70 per cent onwards. However, this offer has limited time period which will be end on 31st March 2021.

As per reports, SBI will be giving a 100 per cent waiver on processing fees under this offer. The interest concession will be based on the loan amount and the CIBIL score of the borrower. The bank believes that it is important to extend better rates to borrowers who maintain a good repayment history.

Farming community can also take advantage of SBI Home loan.

As per report, SBI says that 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 per cent for loans up to Rs 75 lakh, and 6.75 per cent for loans above Rs 75 lakh, says SBI official.

Saloni Narayan, DMD (Retail Business), SBI, says, “Borrowers trust us because of our total transparency. The reduced interest rates are one of the best interest rates in home loans anyone can wish for.”

Customers will also be able to apply from the ease of their home through the YONO App to get additional interest concession of 5 bps, says official. Moreover, on the eve of International Women’s Day, a special 5 bps concession will be made available to women borrowers.