SBI Makes Home Loans Cheaper

With an aim to offer attractive concessions to the home buyers, country’s largest lender, State Bank of India (SBI) announced further interest concession of up to 30 bps on home loans and 100% waiver on processing fees. SBI sa

BY Realty Plus
Published - Monday, 11 Jan, 2021

With an aim to offer attractive concessions to the home buyers, country’s largest lender, State Bank of India (SBI) announced further interest concession of up to 30 bps on home loans and 100% waiver on processing fees. SBI said that it will continue to make endeavours in reviving consumer sentiments and has been offering various offers on home loans from time to time. India’s largest home loan lender has sweetened its past offers and now provides higher interest concession based on loan amount, the creditworthiness of the borrowers and the location of the property. SBI believes that it is important to offer better rates to customers displaying good repayment history. SBI Home loan interest rates are linked to CIBIL score and start from 6.80% for loans upto Rs. 30 lakh and 6.95% for loans above Rs. 30 lakhs. Interest concessions up to 30 bps is also available in 8 metro cities for loans up to Rs 5 crs. CS Setty, MD (Retail & Digital Banking), 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. With the nation all geared up to move ahead post pandemic, SBI would continue to support the home buyers and the Real Estate Sector.