If the credit score is excellent then SBI will give home loan cheaply, you can avail the offer till 31 March 2023

SBI Home Loan: If you are looking for information about banks that provide cheap home loans in this era of expensive home loans, then there is good news for you. State Bank of India, the country’s largest public sector bank, has come up with a cheap home loan offer for you, in which you are getting a discount of 30 to 40 basis points on home loan rates. However, this discount will be available according to your credit score. You can avail the facility of this cheap home loan rates of SBI till March 31, 2023. SBI has named this cheap home offer as Campaign Rates offer.

SBI cheap home loan

SBI is offering a discount of 30 to 40 basis points on its regular home loan rates. And you can take advantage of cheap home loans only when your CIBIL credit score is more than 700. For example, if your credit score is more than 800 points, then at present SBI is offering home loans at 8.90 per cent, then now you will get a discount of 30 basis points. Means now home loan will be available at 8.60 percent interest rate.

If someone’s credit score is between 750 to 799, then home loan is available at the rate of 9 percent, but now after the discount of 40 basis points, home loan will be available at 8.60 percent. And if the credit score is between 700 to 749, till now home loan was available at 9.10 per cent, which will now be available at 8.70 per cent ie a discount of 40 basis points. Women will get an additional discount of 5 basis points on home loans. Salary account holders will get an additional discount of 5 basis points under the Privilege and Own Ghar schemes. Defense personnel will get an additional discount of 10 basis points on home loan rates offered under Shaurya and Shaurya Flexi products.

Discount on top up loan as well

SBI has also decided to give discount on top up loan. Those with more than 800 CIBIL scores now get top up loan at 9.30 per cent, which will be available at 9 per cent. That is, a discount of 30 basis points. Those with CIBIL score from 750 to 799 were getting loans at the rate of 9.40 per cent, which will now be available at the rate of 9.10 per cent.

SBI has decided to completely waive off the processing fees for home loans and top up loans under the campaign offer. SBI’s festive home loan offer was ending on January 31, after which the bank has come up with this cheap home loan offer.

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