SBI Cuts Home Loan Interest Rate to 6.70 Percent


State Bank of India (SBI) has announced in a release that it has reduced home loans rate to 6.70 percent for the loan up to Rs 30 lakh and 6.95 percent for loans above Rs 30 lakh and upto Rs 75 lakh.

The rate above 75 lakh loans is 7.05 percent, also a women borrower will get a specialconcession of 5 basis points (bps).

“The affordability for the consumer increases immensely with the present homeloans interest rate offerings which reduce EMI amounts Substantially”,CS Setty,MD (Retail & Digital Banking)said.

Further, customers can also apply for a loan from the ease of their home via the YONO App to earn an additional interest concession of 5 bps.

However, SBI had reduced the home loan rate to 6.7 percent till 31st March, 2021 as part of festival offer, which were restored to 6.95 percent from 1st April, 2021.


Knowledge Source:

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