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SBI offers further interest concession on home loans



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

“SBI, being a leader in home finance, will continue to make endeavours in reviving consumer sentiments and has been offering various offers on home loans from time to time,” the Bank said in a statement.

SBI 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 percent for loans upto Rs. 30 lakh and 6.95 percent for loans above Rs. 30 lakh. Interest concessions up to 30 bps is also available in 8 metro cities for loans up to Rs 5 crore.

 “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,” said CS Setty, MD (Retail & Digital Banking), SBI.

Customers can also apply from the ease of their home via YONO App/ https://homeloans.sbi / www.sbiloansin59minutes.com and get additional interest concession of 5 bps, the Bank said.

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