This bank is offering lowest interest rate on home loans in the history of India
New Delhi: Things are getting better on home loan front. SBI has cut interest rate by up to 10 basis points (bps) on home loan. Hence, the loans now start at just 6.70 percent rate. However, these rates are applicable on loan amount and also the CIBIL score of the person taking the loan. These rates are applicable only till 31 March 2021.
The interest rates will be 6.70 percent for home loans up to Rs 75 lakh and 6.75 percent for loans of Rs 75 lakh-Rs 5 crore. The bank is also giving a 100 percent waiver on the processing fees.
Borrowers can get additional concession of 5 basis points if they use the Yono app of the bank for loan application. The bank is also giving 5 basis points discount to woman borrowers.