The State Bank of India (SBI) on Friday announced that it will offer interest concession of up to 30 basis points (bps) on home loan interest rates, and a 100 per cent waiver of processing fees. SBI said its interest rate on home loans start from 6.80 percent for loans upto Rs 30 lakh and 6.95 percent for loans above Rs 30 lakh.
“With an aim to offer attractive concessions to the home buyers, country’s largest lender, State Bank of India (SBI) announces further interest concession of upto 30 bps on home loans and 100 percent waiver on processing fees,” the lender said in a statement.
The state-run bank said interest concessions up to 30 bps will be available in eight metro cities, on loans of up to Rs 5 crore. Women borrowers will get a concession of 5 bps, and digital sourcing attracts further concession of 5bps, SBI said.
“We are pleased to improve our concessions to prospective home loan customers upto March’21. With SBI’s lowest interest on home loans, we believe this move will facilitate and encourage home buyers to take the home buying decision with confidence,” CS Setty, MD (Retail & Digital Banking), SBI said in the statement.
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