SBI celebrates festive season by giving 15-30 bps concession on home loans; details here

The State Bank of India (SBI) has been providing a 15 to 30 basis point discount on its home loans from 4 October 2022 to 31 January 2023, in celebration of the festive season. SBI home loans typically have interest rates between 8.55 percent and 9.05 percent. The rates are lower under the bank’s holiday campaign offer and range from 8.40 percent to 9.05 percent. Your CIBIL score, however, is important in order to get the best rate and EMIs. For both regular and top-up house loans, SBI is offering a festive campaign with no processing fees. However, SBI has imposed a flat processing charge of Rs 10,000 plus any applicable GST for home loans secured against a property. For regular home loans: For normal home loans such as Flexipay, NRI, Non-salaried, Privilege/Shaurya, Apon Ghar, etc., the bank is offering borrowers with a CIBIL score higher than or equal to 800 an interest rate of 8.40 percent as part of the festive campaign. In comparison to the typical rate, which is 8.55 percent, this is 15 basis points lower. Borrowers can get a 25 basis point discount, cutting their rate from 8.65 percent to 8.40 percent, for credit scores between 750 and 799. Additionally, a 20 basis point discount is provided for CIBIL scores between 700 and 749, which lowers the interest rate from 8.75 percent to 8.55 percent. The interest rates on house loans for applicants with credit scores between 1 and 699 are unchanged. SBI also claims that the discounted rates include a 5 basis point discount for female borrowers and a 5 basis point reduction for those who have salary accounts with Privilege, Shaurya, and Apon Ghar. For home loans against property: On home loans secured by real estate, SBI is providing a significant 30 basis point discount for certain credit scores. SBI is offering a 10 percent rate instead of the standard 10.30 percent rate for borrowers with credit scores of at least 800, a 10.10 percent rate instead of the standard 10.40 percent rate for those with scores of 750–799, and a 10.20 percent rate instead of the standard 10.50 percent rate for those with scores of 700–749 credit rating. For top-up home loans: SBI is providing a 15 basis point discount on top-up loans during this festive season for credit scores between 700 to greater than or equal to 800. When participating in this festive program, those with credit scores of 800 or higher will pay an interest rate of 8.80 percent instead of 8.95 percent, while those with credit scores of 750 to 799 will pay an interest rate of 8.90 percent instead of 9.05 percent. Moreover, the rate is 9 percent as opposed to the 9.15 percent standard rate for credit scores between 700 and 749. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.