SBI reduces Home Loan Interest Rates

The country's largest lender, State Bank of India (SBI), announced on May 1 that it has reduced its home loan interest rates. Home loan interest rates will start from 6.7% onwards, with effect from May 1, 2021. Home loan interest rates will start from 6.7% for loans u

BY Realty Plus
Published - Monday, 03 May, 2021

The country's largest lender, State Bank of India (SBI), announced on May 1 that it has reduced its home loan interest rates. Home loan interest rates will start from 6.7% onwards, with effect from May 1, 2021. Home loan interest rates will start from 6.7% for loans up to Rs 30 lakh and 6.95% for loans above Rs 30 lakh and up to 75 lakh. The big-ticket loans above Rs 75 lakh would get home loans at 7.05%. Further, women will get a special 5 bps concession. "Customers can also apply for a loan from the ease of their home via the YONO App to earn an additional interest concession of 5 bps," the release stated. Early in April, SBI had revised its home loan rates to start from from 6.95%, effective April 1. This was after the PSU bank had announced a special offer valid till March 31, wherein home loans were available starting from 6.7%.