SBI Offers Discounts On Interest Rate on Home Loans For Festive Season 2024

SBI is offering a concession of 20 basis points to borrowers with CIBIL scores of 700-749, which is almost 8.75 per cent, instead of the normal 8.95 per cent.

State Bank of India (SBI)’s festive offers are here! Since the festive month is approaching, the biggest lender in India is also in a jolly mood and is offering concession of 15 basis points to 30 basis points on its sbi home loans. While the offer is seemingly lucrative for many buyers, it is only available from October 4, to January 31, 2024.

While the normal interest rates on SBI home loans range from 8.55 per cent to 9.05 per cent, under the lender’s festive offers, these rates are expected to be lower and must be checked from the bank itself. In addition to this, SBI is also offering zero processing fees on its regular and top-up home loan plans. But, in order to reap benefits of these offers, a person’s CIBIL score will matter.

SBI Top-Up Home Loan Rates

For this festive season, SBI is offering 1.5 basis points concession on credit scores between 700 to greater or equal to 800, as per Livemint.com. For borrowers with credit score greater or equal to 800, the interest rate is around 8.80 per cent, instead of the normal 8.9 per cent.

For credit scores less than 1 to 699, the interest rates are unchanged, similar to the case of regular home loan rates.