SBI announces 0.25% discount on home loan interest rates, find out how much it will cost to buy a home this Diwali

 SBI announces 0.25% discount on home loan interest rates, find out how much it will cost to buy a home this Diwali

Bank announces 20-point discount on interest rates on over-the-counter home loans

Applying through YONO app will get 5 point discount on home loan interest rate

State Bank of India (SBI) has come up with a special offer for you if you are thinking of buying a house this festive season. Under the offer, the bank will offer customers up to 25 basis points discount on home loan interest rates. The bank has announced a 20 point discount on the interest rate on high ticket size home loans. Also, by applying for a home loan through the YONO application, the customer will get a 5 point discount on the interest rate of home loan of all sizes.

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Larger loans will have more benefits

SBI has announced a 20 basis point discount on home loans over Rs 75 lakh during the festival season. However, it will depend on your Sibyl score. That is, only those with a high CIBIL score will be able to take advantage of it. Also, if you apply for a loan from YONO application and it is approved then you will get an extra discount of 5 basis points. For loans over Rs 75 lakh, the discount will be 25 basis points.

You will get a 10 basis point discount on a small loan

Also, loans of Rs 30 lakh to Rs 75 lakh will get a 10 basis point discount. Also, this discount will be 15 basis points if applied from YONO application. However, it will depend on your Sibyl score. If the home buyer is a woman, she will get an extra 5 point discount. SBI's home loan interest rates start at 6.90%.

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SBI's offer during the festive season

Earlier the bank had launched a festive season offer. Under the offer, SBI has announced a 100% waiver of processing fees for home loans, cars, goals and personal loans. That means you don’t have to pay any processing fees if you’re buying a home.