SBI Home Loan Gets Cheaper As Bank Reduces Interest Rates, Waives Processing Fee Till March 31

SBI now offers interest concessions of up to 70 bps (basis points) on home loans with interest rates starting from 6.70 per cent.

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

Published: March 2, 2021, 8:06 AM IST

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https://www.india.com/business/sbi-customer-alert-sbi-home-loan-interest-rates-cut-6-7-for-good-cibil-processing-fee-waived-check-details-4461250/ Copy

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New Delhi: The State Bank of India (SBI) has come up with massive news for its home loan customers (SBI Home Loans) by reducing the interest rates to 6.70 per cent for people with a good CIBIL score. The new SBI Home Loan Interest Rates have been introduced for a short period of time. The bank has also completely waived off the processing fee required for home loan if applied before March 31.

“SBI, being the market leader in home finance, takes ownership in bolstering consumer sentiments. The affordability for the consumer increases immensely with the present offerings as the EMI will be reduced,” SBI said in a statement.

SBI home loan interest rates reduced. Get your dream home at 6.70%* onwards.
What are you waiting for?
Apply Now at https://t.co/NeeHLbqxMh
*T&C Apply.#SBI #StateBankOfIndia #HomeLoan pic.twitter.com/P8T4BBk7vg

— State Bank of India (@TheOfficialSBI) March 1, 2021

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.

The State Bank also 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.

“SBI believes that it is important to offer better rates to customers displaying good repayment history,” the lender stated.