SBI Home Loan | State Bank of India (SBI) has changed the interest rates for home loans. The Bank has reduced the Marginal Cost of Funds Based Lending Rate (MCLR) with effect from 15 September 2023. According to the bank, the benchmark prime lending rate has been raised to 14.95% from 14.85%.
SBI EBLR/RLLR
According to SBI, the SBI External Benchmark Lending Rate (EBLR) will remain unchanged at 9.15% + CRP + BSP and RLLR (RLLR) at 8.75% + CRP from February 15, 2023.
Base Rate of SBI
State Bank of India’s base rate is 10.10% effective from 15 June 2023.
SBI BPLR
Benchmark Prime Lending Rate (BPLR) has been implemented as 4.95% per annum from September 15, 2023.
Home Loans from SBI during festive season
In view of the festive season, State Bank of India (SBI) has launched a special campaign to offer discounts of up to 65 basis points on home loans. This discount is applicable on Regular Home Loan, Flexipay, NRI, Non-Salary and Affordable Housing. The last date of home loan concession has been fixed as 31 December 2023. Any customer can avail the discount offered earlier.
Processing fee waived
According to the SBI Home Loan website, there is a 50% discount on processing fees in card rates for all home loans and top-up versions. Also, there is 100% processing discount for ready-to-acquire, sell and transfer homes. Apart from this, regular home loan processing fees are also being discounted. However, the bank has clarified that insta home top up, reverse mortgage and EMD processing charges are not eligible for waiver.
Fees for transferring loan to new structure
SBI charges a one-time switchover fee for transferring loans to the new structure, which is Rs 1000 plus applicable taxes.
Disclaimer | Investing in mutual funds and stock market is based on risks. Be sure to consult your financial advisor before investing in the stock market. AkhandIndia.com shall not be liable for any financial loss.
