New Delhi: SBI Home Loan: If you are also decorating your dream of buying your house in the upcoming festive season, then the country’s largest bank State Bank of India has given you a big relief. The country’s largest bank SBI has cut the home loan interest rate in view of the festive season.
State Bank of India has issued a press release regarding this on Thursday, 16 September. Till now, if a person wanted to take more than ₹ 75 lakh as home loan from SBI, he had to pay interest at the rate of 7.15 percent. In the festive season, SBI has reduced the interest rate on home loans of any amount to 6.7 percent.
How much will be the savings?
This decision of State Bank of India will save 45 basis points for the home loan borrowers. If a person takes a home loan of ₹ 75 lakh for 30 years, then he can save up to ₹ 8 lakh from it.
Saving of 15 basis points
SBI has said that till now non-salaried people used to get home loan at 15 basis points higher interest for home loan. This gap has also been removed in the festive season. The bank said in a statement, “Now there will be no discrimination based on the profession of an individual in availing home loan from SBI. This will save 15 basis points on home loan for the non-salaried professional during the festive season.”
processing fee waiver
The country’s largest bank SBI has completely waived processing fees for home loan borrowers. Along with this, the bank has claimed that people who have good credit scores can be given attractive discounts on interest rates.
SBI MD
CS Shetty, Managing Director (Retail & Digital Banking), State Bank of India said, “This festive season, we have made every effort to make the home loan interest rate attractive. Attractive interest rates on home loans Available to all types of customers.SBI Home Loan interest rate of 6.7 per cent is applicable for balance transfer cases also SBI has launched many more attractive offers.This will help more and more people in the country to get home. Will help to buy.
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