SBI has given a great gift to the home buyers in the new year, huge cut in interest rates, 100% discount on processing fees

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Harleen Kaur Grewal

Delhi, January 8, 2021: State Bank of India (SBI), the country’s largest public sector bank, has given an incredible gift to people thinking of getting a new home in the new year. The bank has announced a drastic reduction of 0.30 per cent in interest rates on home loans. With this, the bank has announced a 100 percent discount on processing fees. A press release issued by the bank stated that being the market leader in the home finance sector, it will continue to take steps from time to time to boost the sentiments of their customers. The bank offers various types of offers on home loans from time to time.

The press release issued by the bank stated that it has now made its already ongoing offers more attractive by giving more interest rates on home loans based on the loan amount and CIBIL score. According to the SBI, it is important to offer better interest rates to customers who have a good record of loan payments. SBI’s home loan interest rates are linked to the CIBIL score and for loans up to Rs 30 lakh, the rate is 6.80 percent and for loans above 30 lakh, the rate of interest is 6.95 percent. The bank has said that a concession of 0.30 percent in interest on loans for up to five crore rupees is available in eight cities of the country.

The bank has said that customers can apply for a home loan sitting at home through the YONO app or or This will give customers an additional concession of up to 0.05 percent on interest.

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