State-run State Bank of India (SBI) had revised home loan interest rates. Now, it is offering home loans at an interest rate as low as 6.70 per cent for loans upto Rs 75 lakh and 6.75 per cent for loans in the range of Rs 75 lakh to Rs 5 crore. This offer is valid till March 31, 2021.
The lender is also giving a 100 per cent waiver on processing fees. SBI believes that it is important to extend better rates to customers who maintain good repayment history. Thus, the bank is offering a massive concession upto 70 bps based on the loan amount and CIBIL Score.
Customers can also apply from the ease of their home via YONO App to get additional interest concession of 5 bps. On the eve of International Women’s day, a special 5 bps concession is being made available to the women borrowers.
Saloni Narayan, DMD (Retail Business), SBI said, “Our customers have complete trust in us because of our total transparency. The reduced interest rates are one of the best interest rates in Home Loans anyone can wish for.”
SBI has crossed the Rs 5 lakh crore mark in its home loan business. Now, the bank has set a target to achieve a home loan lending target of Rs 7 lakh crore by FY 2024.