SBI Home Loan Interest Rate: SBI Announces Discounts For The Christmas Season Of Up To 25 Basis Points For Home Loans: Details Here

As part of their festive offer, the State Bank of India (SBI) announced a concession on home loan interest rates of up to 25 basis points. According to the SBI press release dated October 21, 2020, home loan customers would receive a 25 basis point discount on home purchases of over Rs 75 lakh based on their CIBIL score and when they apply through the bank’s YONO platform. At the end of last month, as part of its festive offer, the bank announced a 100 percent waiver of the processing fee for all customers who apply for car, gold and personal loans via its YONO platform.

“In an extension of its recently announced festive offerings, SBI is offering creditworthy concessions of up to 20 basis points from 10 basis points previously for a home loan of over Rs 30 lakh to Rs 2 crores across India. The same concession would also apply to home loan customers for a loan amount of up to Rs 3 crores in eight major cities. An additional 5 basis point concession is granted on all home loans when requested through YONO, “according to the press release.

Here is a look at what SBI has to offer to its private customers:

  • Up to 20 basis points of interest reduction on loans over Rs 75 lakh based on the CIBIL score
  • Interest rate concessions after the RBI monetary policy was announced
  • Additional 5 bps concession for all home loans if they are through YONO. be requested
  • The customer receives a credit rating-based concession of up to 10 bps for loans over Rs 30 lakh to Rs 75 lakh
  • 5 basis points additional discount for homebuyers
  • Interest rates from 6.90% for home loans up to Rs 30 lakh

Ongoing SBI fixed offer

SBI has already announced some special offers for its private customers with 100 percent waiver of processing fees for car, gold and personal loans. It has also announced concessions on loans such as personal loans, auto loans, and gold loans.
Read the whole story here.

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