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SBI gave clarification on home loan rates, said – did not increase the interest rate, restored the original interest rate

SBI Home Loan Interest Rate: SBI said, limited period special concessions during the festive season ended on 31 March 2021 and were now withdrawn.

State Bank of India

The country’s largest state-run State Bank of India (SBI) has recently given clarification on the increase in home loan interest rates. SBI said, in the past, there have been reports in the media about the increase in interest rates of SBI Home Loan. In this regard, we clarify that the limited period special concessions granted during the festive season ended on 31 March 2021 and were now withdrawn.

According to SBI, there is no increase in the interest rates of home loans. The bank says that the original interest rate starting from 6.95 percent has been restored. However, special concessions to women continue.

Offer was till 31 March

Explain that the country’s largest bank SBI had announced to provide home loan at the rate of minimum 6.70 per cent in March under a limited offer. This offer has ended on 31 March 2021. Now home buyers will get a home loan at a minimum 6.95 percent rate.

Last month, SBI waived home loan processing fees by 31 March to cash in on festive enthusiasm. The bank was providing a minimum loan of 6.70 percent for home loans up to Rs 75 lakh for limited period and 6.75 percent for home loans above Rs 75 lakh and Rs 5 crore. Lenders also gave a 100 percent discount on processing fees.

Special discount on loans to women

SBI said that interest rates will continue to be waived for women taking home loans. The bank gives women an additional discount of 0.05 per cent in the home loan interest rate.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.

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