SBI offers home loan at 6.7%: Check eligibility, documents and more
Zee News
The SBI offers home loans with terms ranging from three to thirty years.
The State Bank of India (SBI) has launched the country's first credit score-linked home loans, with rates as low as 6.70 percent regardless of loan amount. The SBI has introduced this loan in anticipation of the country's impending festive season. Previously, a home loan of more than Rs 75 lakh carried an interest rate of 7.15 percent. For a Rs 75 lakh loan with a 30-year term, the offer results in a 45 basis point savings, which corresponds to a large interest saving of more than Rs 8 lakh.
Regular Home Loan, SBI Privilege Home Loan for government employees, SBI Shaurya Home Loan for army and defence personnel, SBI MaxGain Home Loan, SBI Smart Home, Top-up Loan for existing customers, SBI NRI Home Loan, SBI FlexiPay Home Loan for loan of higher amount, and SBI HerGhar Home Loan for women are some of the home loans offered by the bank.
State Bank Of India offers low-interest home loans that are processed for free. There are no hidden or administrative fees associated with the loan processing. On top of that, if a woman takes out a home loan, she will be eligible for rate reductions for women borrowers and credit score-linked home loans. There are no prepayment penalties on these SBI house loans. These home loans can also be used as an overdraft. The SBI offers home loans with terms ranging from three to thirty years. This credit-linked home loan has a low interest rate of around 6.70 percent, regardless of the loan size.