New Delhi: If you are planning to buy a house too, then there is good news for you. The State Bank of India (SBI) has given a golden opportunity to those dreaming of the home by cutting home loan interest rates. The State Bank of India (SBI) has announced a discount of up to 70 basis points, or about 0.7 percent, in-home loans based on the CIBIL score. This makes SBI's home loan to a minimum interest rate of 6.70.
On behalf of SBI, it has been said that this concession rate will be only till 31 March 2021. Apart from this, the bank has also announced waiving of 100% processing fees by 31 March. That is, by the end of March, the home loan borrower will not have to pay any processing fees. The statement said that this concessional rate will be given only to those people, whose score in CIBIL will be good.
The bank has linked its interest rate concession to the CIBIL score. The bank said in a statement that 'SBI believes that customers with good payment history should provide better rates. SBI continues to be the market leader in home finance. With the current offering, it will become very economical for customers to take loans as EMI will decrease.
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SBI offers interest concession on home loans rates, offer valid till 31st March