SBI offers home loans at 6.9% in festival discount
26 Oct 2020
1
State Bank of India (SBI), the country’s largest lender, is offering concessional home loan rates of as low as 6.90 per cent for home loans of up to Rs30 lakh.
For loans above Rs30 lakh and up to Rs75 lakh, SBI offers up to 20 bps interest concessions based on CIBIL score, while an additional 5 bps concession will be offered for all home loans if applied through SBI’s YONO platform.
Customer to get credit score based concession up to 10 bps for loans above Rs30 lakh to Rs75 lakh while women customers will get 5 bps additional interest concession on home loans.
"In an extension of its festive offers announced recently, SBI offers a credit score based concessions of up to 20 bps from 10 bps earlier, for a home loan of above Rs 30 lakh to Rs 2 crore across India. The same concession would also be applicable for home loan customers for a loan amount of up to Rs 3 crores in eight metro cities. An additional 5 bps concession for all home loans is given if applied through YONO," as per the release.
Besides, SBI has already announced a slew of special offers for retail customers, including 100 per cent processing fee waiver on car, gold, personal loans. It also announced concessions on loans such as personal loans, car loans, and gold loans.
Meanwhile, the central government had filed an affidavit in the Supreme Court in a case concerning loan moratorium, stating that it would waive interest on interest on loans up to Rs2 crore for a select category of borrowers.
The centre expects an expenditure of Rs5,500-6,000 crore on the proposed waiver.
Simultaneously, SBI along with other major banks like HDFC Bank, ICICI etc is also providing an income boost with a special FD schemes for senior citizens with higher interest rates compared to that offered to regular customers.
Senior citizens' special FD scheme is applicable for a tenure of 5 years or more. State Bank of India, Bank of Baroda, HDFC Bank, and ICICI Bank are offering extra interest rates over the existing senior citizen interest rates for fixed deposit. The deposit amount is not limited to Rs 1.5 lakh. And, the eligibility criteria being that residents of 60 years or more are eligible to invest in Senior citizens' special FD scheme.
SBI’s special fixed deposit scheme for senior citizens called, SBI 'WECARE' offers 80 bps higher interest rates to its senior customers. If a senior citizen puts a fixed deposit under the special FD scheme, then the interest rate applicable to the FD will be 6.20 per cent. These rates are applicable to effective 27 May.
.jpg "Microsoft, Google challenge Delhi HC order to remove non-consensual content")
