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SBI reduces the interest rate for housing loans!
Posted on: 22/Oct/2020 1:09:43 PM
The country’s premier Public Sector Bank, the State Bank of India (SBI), has reduced the interest rate for housing loans by 0.25%.
In a notification released by SBI regarding this, for the customers who have taken or taking SBI housing loans from Rs. 30 Lakhs to Rs. 2 Crores, the interest rate will be reduced by up to 0.2% based on the CIBIL points. Further, for those customers applying for housing loans through the SBI App ‘YONO’, an additional reduction of 0.05% on the interest rate will be offered.
At the same time, it has also been mentioned that the residents of the country’s Metro Cities who avail loans up to Rs.3 Crores will also be eligible for this reduced interest rate for SBI housing loans.
SBI has been charging an interest rate of 6.90% for housing loans up to Rs. 30 Lakhs and for loans greater than Rs. 30 Lakhs, an interest rat6e of 7%.
State Bank of India has been announcing various attractive concessional offers with the fast-approaching festive season to encourage the public to avail housing loans.
It is worth recalling at this juncture that a little earlier (last month), the State Bank of India had announced that it is cancelling 100% of the verification/processing fee for the applicants for Housing Loans!
