State Bank of India has decided to offer a concession of up to 0.25 per cent on home loans, 0.15 per cent on top-up loans, and 0.30 per cent on loan against property for a limited period.
This offer is part of the bank’s festive bonanza and to mark the milestone of surpassing ₹6-lakh crore in Assets Under Management (AUM) in the home loan segment.
The interest rate for buyers of new home loans as well as takeovers starts at 8.40 per cent and top-up loans for furnishings/renovation/ home makeover start at 8.80 per cent, India’s largest bank said in a statement.
Processing fee waiver
SBI has also waived off the processing fees on home loans up to January 31, 2023.
Dinesh Khara, Chairman, said: “We are extremely grateful to our customers comprising more than 28 lakh-plus families, who have trusted us and chosen us, to be their partner in the home-ownership journey.
“A series of process and digital initiatives undertaken over the past few years played a crucial role in our journey to the ₹6-lakh crore mark.”
Alok Kumar Choudhary, Managing Director, SBI, said: “As we enter the festive season after a long period of muted celebrations due to Covid restrictions, our offers this festive season are aimed to provide much-needed support for prospective home buyers as they embark on their journey for home ownership.”