SBI Cuts Home Loan Interest Rates: Check Details Here

State Bank of India (SBI), the country's largest lender, reported on Saturday that it had lowered its home loan interest rates. With effect from May 1, 2021, home loan interest rates will begin at 6.7 percent.

According to the bank's press release, home loan interest rates would start at 6.7 percent for loans up to Rs 30 lakh and 6.95 percent for loans above Rs 30 lakh and up to Rs 75 lakh. Home loans of more than Rs 75 lakh would have a 7.05 percent interest rate.

A special 5 basis point discount is being made available to women borrowers. Customers may also apply for a loan through the YONO App from the comfort of their own homes, earning a 5 basis point interest reduction, according to SBI.

SBI updated its home loan rates to begin at 6.95 percent on April 1st, with effect from that date. This came after the PSU bank announced a special offer that was valid until March 31 and included home loans starting at 6.7 percent. Visit https://homeloans.sbi/calculators to calculate your SBI home loan EMI.

In terms of assets, deposits, branches, clients, and employees, SBI is the largest commercial bank. It also claims to be the country's biggest mortgage lender.

The bank's home loan portfolio has surpassed the Rs. 5 lakh crore mark. As of December 31, 2020, the bank had an auto loan book of Rs. 75,937 crore, a deposit base of over Rs. 35 lakh crore, and advances of more than Rs. 26 lakh crore, with a CASA ratio of around 45 percent.GoodReturns.in