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SBI slashes home loan interest rates to 6.7%

The lender is also giving a 100 per cent waiver on processing fees

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The State Bank of India has reduced home loans rates. The country's largest lender now offers interest concessions of up to 70 basis points (bps )with interest rates starting from 6.70 per cent onwards. This is a limited period offer ending on March 31, the lender said. 

The lender is also giving a 100 per cent waiver on processing fees. The interest concessions are based on loan amount and CIBIL (Credit Information Bureau - India - Limited) score of the borrower, SBI said in a release. SBI home loan rates start from 6.70 per cent for loans up to Rs 75 lakh and 6.75 per cent for loans from Rs 75 lakh to Rs 5 crore. Women borrowers will get a 5 bps concession.

The interest concession is based on the loan amount and CIBIL score of the borrower. SBI believes that it is important to extend better rates to customers who maintain good repayment history.

Customers can also apply from the ease of their home via the YONO app to get additional interest concession of 5 bps. 

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