New Delhi: SBI Home Loan Interest Rate – Seeking to buy your dream home? State Bank of India (SBI) has lowered its home loan interest rate. SBI’s decision has come even though Covid pandemic is in full swing in India. India’s largest lender has cut down its home loan interest to 6.70 per cent. Notably, SBI was offering home loans at an interest rate starting from 6.70 per cent till March 31, 2021. From April 1, 2021, it restored the original interest rates starting from 6.95 per cent.
SBI Home Loan Interest Rate 2021
If you are taking home loan up to Rs 30 lakh from State Bank of India, SBI is charging an annual interest rate of 6.70 per cent.
However, if you are borrowing home loan above Rs 30 lakh and up to Rs 75 lakh, SBI home loan interest rate will be 6.95 per cent.
If you are taking Rs 75 lakh as Home Loan, the SBI Home Loan annual Interest rate will be 7.05 per cent, according to details provided by SBI.
“The affordability for the consumer increases immensely with the present home loan interest rate offerings which reduce the EMI (equated monthly instalment) amounts substantially,” State Bank of India Managing Director (Retail and Digital Banking) C S Setty said.
SBI Home Loan Interest Rate For Women
State Bank of India has a special home loan offer for women borrowers. For women home loan borrowers, SBI is offering a special five basis points (bps) concession on home loan interest rates.
SBI Home Loan Interest Rate For Its Customers
State Bank of India is also offering lower home loan interest rates for SBI Customers who use YONO App. If SBI customers apply for home loan through YONO app, they can avail an additional interest concession of 5 basis points, State Bank of India said.
SBI has over 34 per cent market share in home loans. Its home loan portfolio has crossed the milestone of Rs 5 lakh crore.
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