SBI is offering a big offer on home loans. State Bank of India has announced a rebate of up to 70 bps (basis points) with interest rates starting from 6.7% with a 100% discount on processing fees for home loan customers till 31 March. SBI also said in a press release that waiver of the loan amount, interest, and processing fees will depend on the CIBIL score of the applicant. Those who want to avail home loan can apply for a home loan from the bank’s YONO app. Customers can also visit the bank’s website to apply for a home loan.
The rate of interest on home loans up to Rs 75 lakh in SBI, India’s largest public sector bank, is starting at 6.7 percent. The cheapest interest rate for loans above this is 6.75%. According to the press release, the bank believes that customers who have a good credit score and a better history of their reparations should better take advantage of this offer.
Along with this, along with regular home loans for buyers, it is SBI Privilege Home Loan for government sector employees, SBI Shaurya Home Loan for Army personnel and Defense Officers, SBI MaxGain Home Loan, SBI Smart Home and existing customers. Top-up is also offering loans. Apart from this, the bank has also brought SBI NRI home loan, SBI FlexiPay home loan for higher amount and SBI HerGhar Home Loan for women.
SBI offering: Home loan will be approved in five days
According to PTI, SBI announced this offer after signing an AMU with Shapoorji Pallonji Real Estate to provide a quick home loan to people buying homes under approved projects of Shapoorji Pallonji Real Estate, among others. SBI chairman Dinesh Khara had also said earlier that the bank will tie-up with more builders to reduce the home loan turnaround time. He said that the bank is aiming to approve home loans in five days as compared to 12 days.