Clients will also be able to apply from the comfort of their home through the YONO app.
The State Bank of India (SBI) has improved the mortgage loan offers for its borrowers and now offers an interest grant of up to 70 bps with interest rates from 6.70 percent and up. However, SBI’s offer is a limited-term offer ending March 31, 2021.
The nation’s largest lender will also grant a 100 percent waiver on processing fees under this offer. The interest award will be based on the loan amount and the borrower’s CIBIL score. The bank believes that it is important to extend better rates to borrowers who maintain a good payment history.
As one of the leading banks in the home finance market, SBI takes responsibility for reinforcing consumer sentiment. The company says consumer affordability is greatly increased with current offerings as EMI will be lowered.
SBI home loan interest rates are tied to the CIBIL score and start at 6.70 percent for loans up to Rs 75 lakh, and 6.75 percent for loans over Rs 75 lakh.
Additionally, clients will also be able to apply from the comfort of their home through the YONO app for an additional 5 bps interest grant. Also, note that on the eve of International Women’s Day, a special 5 bp concession will be made available to women borrowers.
Saloni Narayan, DMD (Retail), SBI, says: “Borrowers trust us because of our full transparency. Low interest rates are one of the best home loan rates anyone could want. “
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