Festive Interest Rate: SBI Offers Up To 25 Bps Concession On Home Loan Rates; Check Details Here

SBI is already offering a credit score based concessions of up to 20 bps from 10 bps earlier, for a home loan of above ₹30 lakh to ₹2 crore across the country.

New Delhi: In order to encourage home buyers, the country’s largest lender State Bank of India (SBI) has announced concession in home loan rates by as high as 25 bps. Here is what the bank is offering retail customer:

• SBI home loan customers would get an interest concession of 25 bps for buying their homes of above ₹75 lakh based on Cibil score and through Yono, as per the business daily Mint.
• The concession in rates has been announced after RBI Monetary Policy announcement
• Additional 5 bps concession for all home loans if applied through YONO
• SBI is already offering a credit score based concessions of up to 20 bps from 10 bps earlier, for a home loan of above ₹30 lakh to ₹2 crore across India.
• The same concession would also be applicable for home loan customers for a loan amount of up to ₹3 crore in eight metro cities.
• You can avail interest rates starting as low as 6.90% for a home loan of up to ₹30 lakh and 7% for above ₹30 lakh.

What are the other key offers?

• The bank has already announced a range of special offers for its retail customers with 100% processing fee waiver on car, gold, personal loans.
• Retail customers can also avail interest rate starting from 7.5% on a car loan.
• In fact, gold loan and personal loan customers are availing lowest interest rates of 7.5% and 9.6% respectively, this festive season.
• Moreover, customers can apply for paperless pre-approved personal loans and Insta home top-up loans through Yono.

SBI remains the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country, and holds nearly 34% market share in home loans and nearly 33% in the auto loans segment.