You are here: Home » Finance » News » Banks
Business Standard

SBI reduces home loan interest rates to 6.7%

SBI home loan interest rates start from 6.7% for loans up to Rs 75 lakh and 6.75% above Rs 75 lakh; the lender is also offering 100% waiver on processing fees

sbi | SBI Home Loan | Interest Rates

BS Web Team  |  New Delhi 

SBI stocks were up 4.45 points to Rs 394.80 at the time of filing this report.

The State Bank of India on Monday lowered its on home loans to 6.70 per cent and waived off processing fees saying that "it is important to extend better rates to customers who maintain good repayment history."

Home loan are linked to CIBIL score and start from 6.70% for loans upto Rs 75 lakh and 6.75% for loans above Rs 75 lakhs. While the lender is also offering interest concession of upto 70 bps,women borrowers will get additional concession of 5 bps.

"SBI, being the market leader in home finance, takes ownership in bolstering consumer sentiments. The affordability for the consumer increases immensely with the present offerings as the EMI will be reduced," it said in a statement.

“Our customers have complete trust in us because of our total transparency. The reduced are one of the best interest rates in Home Loans anyone can wish for,” Saloni Narayan, DMD (Retail Business), said.

stocks were up 4.45 points to Rs 394.80 at the time of filing this report with a jump of 1.17 per cent from the previous day of trading.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, March 01 2021. 14:09 IST