To give homebuyers an enhanced festive delight this festive season, State Bank of India (SBI) has announced concession on home loans interest rates of as much as 25 basis points (bps).
According to the SBI press release today, home loan customers will get an interest concession of 25 bps for buying a home of above Rs 75 lakh based on CIBIL score and through YONO application.
20 bps interest concession will be offered for loans above Rs 75 lakh which will be based on the customer’s credit score and the additional 5% will be given if the home loan application is done through the YONO app. An extra 5% concession will be provided to women who are buying a home.
“In an extension of its festive offers announced recently, SBI is offering a credit score based concessions of up to 20 bps ( which were 10 bps earlier), for a home loan of above Rs 30 lakhs to Rs 2 crores across India,” the bank said in a statement.
SBI’s lowest interest rate is now 6.9% on home loans of up to Rs 30 lakh, and 7% for home loans of above Rs 30 lakh.
Last month, the bank had already announced a 100 per cent waiver in its processing fee for all customers applying for a car, gold, and personal loans through its YONO platform as part of its festive offer.