SBI announces upto 0.25 % concession on home loan rates
Deccan ChronicleMumbai : The country’s largest lender State Bank of India on Wednesday announced up to 25 basis points concession on home loan rates as part of its festival offers. SBI home loan customers would get an interest concession of 25 bps for buying their dream homes of above Rs 75 lakh based on CIBIL score and through YONO app. SBI now offers interest rates starting at 6.90 per cent for a home loan of up to Rs 30 lakh and 7 per cent for above Rs 30 lakh. The latest announcement regarding the home loan risk weights has done away with the requirement of factoring in loan amount while setting risk weights for fresh home loans sanctioned till March 31, 2022. The move would benefit incremental housing loans in higher ticket size of over Rs 75 lakh which currently attracts 50 per cent risk weight.