Saturday, October 16, 2021
HomeFinanceSBI made home loan cheaper, Everyone will get a loan at 6.7%...

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

Most Popular

Latest

Know-How much is a full charge electric car, what is the price of one unit?

Electric car charging rate: If you talk about electric car charging, then you can get it charged at Rs 15 per unit in Mumbai...

MG Astor Compact SUV Launched in the Market, Prices Start at ₹ 9.78 Lakh

The 2021 MG Astor is the fifth car from the company to go on sale in India, which is the petrol model of the...

Rubina Dilaik shared photos in a backless two-piece, going viral on the internet

Rubina Dilaik, the winner of TV's popular controversial show 'Bigg Boss 14', has come into the limelight. Since the show, his fan following on...

Samsung’s dazzling foldable 5G phone came to mess with the iPhone 13, the design made people crazy and the price blew the senses

Samsung W22 5G Foldable Phone Launched: Samsung has launched the W22 5G foldable smartphone in China. The foldable device will be a China-only model and...

Credit Card Statement: Why is it important to view credit card statements? If you don’t see then do a big mistake

Credit Card Statement: If you have a credit card from any bank, then it is very important to see its statement. The credit card...

Subscribe

* indicates required