SBI Home Loan Alert: Bank Announces Special Concession For Women Borrowers | Details Here

As part of this, SBI customers who avail home loan via the YONO app will get an additional interest concession of 5 bps.

Written by: India.com Business Desk Edited by: Sharmita Kar

Updated: March 8, 2021, 8:01 PM IST

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https://www.india.com/business/sbi-customer-alert-home-loan-interest-rate-for-women-international-womens-day-special-details-here-4477094/ Copy

SBI SCO Interview 2021 Schedule Released At sbi.co.in

New Delhi: On the occasion of International Women’s Day today, the State Bank of India (SBI) announced that it is offering an additional reduction of interest on home loan rates to women borrowers. The offer, exclusive for women, will be valid till March 31. As part of this, SBI customers who avail home loan via the YONO app will get an additional interest concession of 5 bps.

“On Women’s Day, we make it special with an additional concession of 5 bps* to women borrowers and interest starting at 6.70%* onwards,” SBI said in a tweet.

Your Dream Home. Our Goal. 🏡💭
On #WomensDay, we make it special with an additional concession of 5 bps* to women borrowers and interest starting at 6.70%* onwards.
To know more, visit: https://t.co/L7SN4HqGFg pic.twitter.com/CuXWtvBhxD

— State Bank of India (@TheOfficialSBI) March 8, 2021

SBI has already slashed the interest rate on home loans starting at 6.70 per cent for people with a good CIBIL score, as on March 1. The country’s largest lender now offers an interest concession of up to 70 bps (basis points). The lender has also offered a 100 per cent waiver on processing fees.

SBI home loan interest rates are linked to CIBIL score and start from 6.70 per cent for loans upto Rs 30 lakh and 6.95 per cent for loans above Rs 30 lakh.

In February, SBI reached a landmark by crossing the Rs 5 lakh crore-mark in its home loan business and paved way to achieve a home loan AUM of Rs 7 lakh crore by FY 2024.

The State Bank of India provides a host of home loan options for the customers apart from the regular home loan plans. These include — SBI Privilege Home Loan for government employees, SBI Shaurya Home Loan for Army and Defence personnel, SBI MaxGain Home Loan, SBI Smart Home, Top-up Loan for existing customers, SBI NRI Home Loan, SBI FlexiPay Home Loan for home loan of a higher amount, as well as SBI HerGhar Home Loan for women.

Meanwhile, other lenders including ICICI Bank, Housing Development Finance Corporation (HDFC) and Kotak Mahindra Bank also slashed the interest rates on home loans.