: State Bank of India (SBI) is running a special campaign to attract home loan seekers. Huge discounts on home loans have been announced. Interest concession of up to 65 basis points is being offered to home loan borrowers from their bank. This benefit is also applicable to Flexi Pay, Non-Salary, NRI, Privilege and Aparghar including regular home loan, it has revealed in its official announcement. However, the low interest loan will be availed till December 31, 2023. This special campaign will end at the end of this month. At present State Bank home loan interest rates EBR (External Benchmark Based Interest Rate) is 9.15 percent. That means home loan interest rates start from 9.15 percent. The bank has revealed which offers are applicable to whom through this special campaign. SBI decided the discount on interest rates mainly based on the CIBIL score. Let’s find out the details.
- If the CIBIL score is between 750-800, the home loan interest rate will be reduced by 55 basis points. That means they will get a home loan at only 8.60 percent interest after the concession.
- If the Sibyl Scheer is between 700-749 they will get interest subsidy of 65 basis points. As against the normal interest rate of 9.35 per cent for them, 8.70 per cent will be applicable at the time of this offer.
- If the CIBIL score is between 650-699 then no concession is applicable. Interest rate of 9.45 percent is applicable for them.
- If the CIBIL score is between 550 and 649, 9.65 percent interest will be applicable, the bank said.
- CIBIL score between 151-200 is being given a discount of 65 basis points during this offer period. The home loan interest rate for them is 8.70 percent.
- If the CIBIL score is between 101-150 they will not get any concession. The interest rate for them is 9.45 percent.
- Home buyers in builder tie-up projects will get additional concession of 5 basis points.
- However, processing charges on home loans in SBI start from a minimum of Rs.2000 plus GST. At most, you will have to pay Rs.10 thousand plus GST. Or 0.35 percent on the loan amount you take.