SBI Increases Interest Rates on Home Loans

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SBI Increases Interest Rates on Home Loans
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• The State Bank of India has
• revised its home loan rates, increasing it by 25
  basis points/ 0.25 which brings it to 6.95 from
  6.70.

https//financebuddha.com/blog/sbi-increases-inter
est-rates-on-home-loans/
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• As per information posted on SBI official
  website, the new rate effective from 1st April
  2021. The hike in the home loan rate by SBI is
  likely to prompt other lenders to follow suit.
• Additionally, the State Bank of India will now
  impose a consolidated processing fee, which will
  be 0.40 of the total loan amount plus applicable
  GST, subject to a minimum of ? 10,999 and a
  maximum of ? 30,000 plus GST.

https//financebuddha.com/blog/sbi-increases-inter
est-rates-on-home-loans/
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• The EBLR, which is linked to the RBIs repo rate,
  is currently 6.65. This would mean that home
  loans are available at 7. However, the bank is
  still offering special privileges to women
  applicants, and a loan application where a woman
  is one of the applicants is entitled to a 5bps
  discount, which makes it 6.95.
• SBI last month announced a special offer on home
  loans, under which, SBI was offering home loans
  starting _at_ 6.70 interest rate and in addition to
  this SBI had also waived home loan processing
  fees. However, these offers were valid only till
  31st March.  

https//financebuddha.com/blog/sbi-increases-inter
est-rates-on-home-loans/
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