SBI lowers Home Loan Interest Rate to 6.70 percent

The country's largest lender, State Bank of India (SBI) on Saturday said it has reduced home loans rates to 6.70 per cent. Also, women borrowers will get a special concession of 5 bps, the bank said in a release.

Home Loan Interest rates are now starting as low as 6.70 per cent for loans up to Rs 30 lacs and 6.95 per cent for loans above Rs 30 lacs to Rs 75 lacs. Home Loans above Rs 75 lacs get highly attractive

"The affordability for the consumer increases immensely with the present home loan interest rate offerings which reduce the EMI amounts substantially," said C S Setty, MD (Retail & Digital Banking).

With the reduction, SBI home loan interest rates now start from 6.70 per cent for loans up to Rs 30 lacs and 6.95 per cent for loans above Rs 30 lacs and up to 75 lakh. The big-ticket loans above Rs 75 lacs would get home loans at 7.05 per cent, the bank said. Customers can also apply for a loan from the ease of their home via the YONO App to earn an additional interest concession of 5 bps, SBI said.