CS Shetty, Managing Director (Retail & Digital Banking), State Bank of India said, “We have tried our best to make the home loan interest rate attractive this festive season. Attractive interest rates on home loans are available to all types of customers.
The festive season is a good time to buy a house. State Bank of India (SBI) on Thursday announced a range of offers for home loan customers. That includes credit score linked home loans, which start at 6.70 per cent irrespective of the loan amount. Earlier, a customer taking a home loan of more than Rs 75 lakh had to pay an interest rate of 7.15 per cent. Now under the new offer, the customer can take a home loan at the rate of 6.70 percent for any loan amount.
This decision of State Bank of India will save 45 basis points for the home loan borrowers. Further, the interest rate applicable to non-salaried home loan customers was 15 bps higher than the interest rate applicable to the salaried borrower. The bank has done away with this distinction between salaried and non-salaried borrowers.
The bank said in a statement, ‘Now there will be no discrimination based on the profession of an individual in taking home loan from SBI. This will help a non-salaried professional to save 15 basis points on home loans during the festive season. SBI has completely waived off 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.
CS Shetty, Managing Director (Retail & Digital Banking), State Bank of India said, “We have tried our best to make the home loan interest rate attractive during the festive season. Attractive interest rates on home loans are available to all types of customers. The interest rate of 6.7 per cent on SBI home loans is also applicable in balance transfer cases. Along with this, SBI has started many more attractive offers. This will help more and more people in the country to buy houses.
