Monday, October 3, 2022

SBI made home loan cheaper, Everyone will get a loan at 6.7% under this festive offer

According to the press release issued by State Bank, SBI currently gives more than 75 lakh home loans at an interest rate of 7.15 percent. But after the introduction of the festive offers, borrowers taking home loans above Rs 75 lakh will also get a home loan at a minimum rate of 6.7%.

SBI Home Loan Rate Cut: The country’s largest bank State Bank of India (SBI) has announced a big relief regarding home loans. SBI has announced that in view of the festive season, it will offer credit score linked home loans at the rate of 6.7%, irrespective of the loan amount. 

SBI makes home loan affordable for all!

According to the press release issued by State Bank, SBI currently gives more than 75 lakh home loans at an interest rate of 7.15 percent. But after the introduction of the festive offers, borrowers taking home loans above Rs 75 lakh will also get a home loan at a minimum rate of 6.7%. The press release said that under this offer, borrowers taking a home loan of Rs 75 lakh for 30 years will get a 0.45% cheaper loan, which will save them more than Rs 8 lakh during this entire period.

Read More: Horoscope 17 September 2021: Auspicious yoga is being made for these 5 zodiac signs on Friday

Cheap loan to non-salaried class also

Further, the interest rate applicable to non-salaried borrowers used to be 0.15 percent higher than the interest rate applicable to salaried borrowers. SBI has said that under this offer, the distinction between salaried and non-salaried has been eliminated. Hence, as of now, no business-linked interest premium is being charged from potential home loan borrowers, State Bank said. This will result in further interest savings of 0.15 percent for non-salaried borrowers. 

State Bank of India has also completely waived off the processing fee and will offer attractive interest at a concessional rate based on the credit score of the borrower. SBI said that this time around, we have made the offers more inclusive and the offers are available to all categories of borrowers, irrespective of the loan amount and profession of the borrower. The 6.70% home loan offer is also applicable on balance transfer cases. 

SBI Managing Director (Retail and Digital Banking), CS Setty said, “We believe zero processing fees and concessional interest rates will make home-buying more affordable during the festive season. 

Let us tell you that SBI has also cut the base rate and prime lending rate. According to SBI’s website, from September 15, 2021, SBI’s base rate will be 7.45% and the prime lending rate will be 12.2%.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img

Most Popular

spot_img

Latest

Use of phone SIMs will be heavily prosecuted; users of applications like WhatsApp and Telegram who use false IDs risk receiving a year in...

Making a fake ID, using a bogus identity on applications like WhatsApp, Telegram, and Signal, or obtaining a SIM card by providing false documentation...

Sugar Production: Now the price of sugar will be lower, the sugar mill going to open next month, know the reason

Excess production of sugar in India: There are signs of a reduction in the price of sugar in the country. The operation of sugar...

Due to a current supply issue, the decision to require 6 airbags in cars was postponed, according to Gadkari. The rule will now take...

The decision to require six airbags in M1 category vehicles with up to eight seats has been postponed by the government by one year....

Sushant Singh Rajput’s ex-girlfriend Rhea Chakraborty wore a revealing braless beautiful dress check her photos

Rhea Chakraborty looked stunning on this special occasion. People were attracted to the actress's perfect and curvy figure because she was dressed in such a...

Photos: Now the railway stations of India will look more luxurious than the airport, the picture will be like this in the coming few...

Indian Railways' proposal for redevelopment of railway stations in New Delhi, Ahmedabad, and Mumbai has been approved. Around Rs, 10,000 crores is being invested...

Most Popular

Subscribe

* indicates required