The SBI mortgage interest rate has increased! Check New Tariffs Issued By State Bank Of India, Benefits For Women
NEW DELHI: SBI mortgage interest rate – Bad news for home buyers, the State Bank of India (SBI) raised the interest rate on home loans to 6.95 percent, from 6.70 percent. The new interest rate on mortgage loans revised by SBI entered into force from April. Until March 31, SBI offered interest rates on home loans ranging from 6.70% for loans up to Rs 75 lakh and 6.75% for loans of around Rs 75 lakh to Rs 5 crore. Read also – 4 mistakes to avoid when applying cream under the eyes
SBI 2021 mortgage interest rate
The State Bank of India offers different interest rate brackets on the home loan on the loan amount for the salaried class. Read also – New COVID travel rules for Germany: no quarantine required for vaccinated travelers
1. If an employee borrows up to Rs 30 lakh, the effective interest rate on the SBI home loan will be 7 percent. Read also – Disha Patani on ‘Kissing’ Salman Khan in Radhe: It was a fun experience
2. If a salaried individual borrows between Rs 30 lakh and Rs 75 lakh, the effective interest rate on the SBI home loan will be 7.25 percent.
3. If a salaried individual borrows more than Rs 75 lakh, the effective interest rate on the SBI home loan will be 7.23 percent.
At the same time, a bonus of 15 reduced points (bps) will be added to the card price for non-salaried customers.
SBI mortgage interest rate for women
The State Bank of India offers lower interest rates on home loans for women. A concession of around five basis points will be available to women at SBI home loan interest rates.
Under the “SBI Privilege and Shaurya Schemes”, when the direct debit facility is provided by the Government Department or the Defense Institution under contract with the State Bank of India, the mortgage interest rate applicable to women will be applicable to men or others.
SBI mortgage processing fees
SBI also said it will also collect a consolidated processing fee on home loans. This will represent 0.40 percent of the loan amount and Goods and Services Tax (GST) subject to a minimum of Rs 10,000 and a maximum of Rs 30,000 plus GST.
You can call SBI’s 24 × 7 helpline at toll-free 1800 11 2211, 1800 425 3800 or toll-free 080-26599990 to find out the mortgage rates that are right for you.