If you are also thinking of taking a loan at a low-interest rate, then this news is beneficial for you. State Bank of India, the country's largest public sector bank, has come up with a cheap home loan offer for you. Let us know about this loan offer in the news below.
If you are looking for information about banks that provide cheap home loans in this era of expensive home loans, then there is good news for you. State Bank of India, the country's largest public sector bank, has come up with a cheap home loan offer for you, in which you are getting a discount of 30 to 40 basis points on home loan rates. However, this discount will be available according to your credit score. You can avail of the facility of this cheap home loan rates of SBI till March 31, 2023. SBI has named this cheap home offer as Campaign Rates offer.
SBI cheap home loan
SBI is offering a discount of 30 to 40 basis points on its regular home loan rates. And you can take advantage of cheap home loans only when your CIBIL credit score is more than 700. For example, if your credit score is more than 800 points, then at present SBI is offering home loans at 8.90 percent, then now you will get a discount of 30 basis points. This means now home loans will be available at an 8.60 percent interest rate.
If someone's credit score is between 750 to 799, then the home loan is available at the rate of 9 percent, but now after the discount of 40 basis points, the home loan will be available at 8.60 percent. And if the credit score is between 700 to 749, till now home loan was available at 9.10 percent, which will now be available at 8.70 percent ie a discount of 40 basis points. Women will get an additional discount of 5 basis points on home loans. Salary account holders will get an additional discount of 5 basis points under the Privilege and Own Ghar schemes. Defense personnel will get an additional discount of 10 basis points on home loan rates offered under Shaurya and Shaurya Flexi products.
Discount on top-up loans as well
SBI has also decided to give discounts on top-up loans. Those with more than 800 CIBIL scores now get a top-up loan at 9.30 percent, which will be available at 9 percent. That is a discount of 30 basis points. Those with CIBIL scores from 750 to 799 were getting loans at the rate of 9.40 percent, which will now be available at the rate of 9.10 percent.
SBI has decided to completely waive the processing fees for home loans and top-up loans under the campaign offer. SBI's festive home loan offer was ending on January 31, after which the bank has come up with this cheap home loan offer.
