SBI offers 30-55 bps discount on home loan rates, first disbursement by March 31

Under the campaign rates, the regular home loan rates are cheaper at 8.70% as compared to the normal rate of 9.15%. While under top-loan, the rates are as low as 9.10% as compared to the normal rate of 55%. Similarly, the loan against property interest rate is 10.60%, while the normal rate is 10.90%.

It needs to be noted that SBI home loan concessions vary depending on your credit score.

Latest SBI Home Loan Rates:

Regular Home Loan, Flexipay, NRI, Non-Salaried, Privilege, APON Home:

As part of the campaign offer, SBI is offering a concession of 45 bps to 55 bps to borrowers with a credit score greater than 700 or equal to 800.

The lowest rate under offer is 8.70% on credit scores greater than or equal to 800 against the normal rate of 9.15% – a concession of 45 bps.

In addition, the bank is offering a concession of 55 bps on credit scores from 750 – 799 to 8.70% at a normal rate of 9.25%. Additionally, the bank is charging a rate of 8.80% under the offer for credit scores between 700-749, which is a concession of 55 bps, as against the normal rate of 9.35%.

Also, SBI is offering 55 bps concession on home loans for credit score NTC/NO/-1— which is 8.80% as against the normal rate of 9.35%.

Other rates are unchanged. The interest rate remains the same at 9.45% on credit scores of 650 – 699; and 9.65% on credit scores of 550 – 649.

Stated in its campaign rates for Shaurya and Shaurya Flexi product: 10 bps concession on the above offered rates (not applicable in acquisition cases/resale/turn-out cases, in which separate concessions are available).

In addition, for HL acquisitions and resale/move-in properties: 20 bps concession on the above rates (for CIBIL score of 700 and above).

Additionally, SBI said the rates include 5 bps concession available to women borrowers and 5 bps concession available to salary account holders for Privilege and Upon Home.

Lastly, for LTV >80% and <=90%, the premium of 10 bps will continue for loans up to ₹30 lakh.

Top-up Home Loan:

Under this category, SBI is offering a concession of 45 bps on credit score of 700 to 800 and above.

In the campaign offer, SBI gives a rate of 9.10% to borrowers whose credit score is greater than or equal to 800 as against the normal rate of 9.55%. While it offers a rate of 9.20% on CIBIL 750 – 799 from the normal rate of 9.65%; and 9.30% on CIBIL score of 700 -749 from the general rate of 9.75%.

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The rest of the home loan interest rates remain unchanged. SBI continues to charge 9.85% on 650-699 credit scores; 10.15% on 550 – 649 credit scores; and 9.75% on NTC/No CIBIL/-1.

Additionally, SBI is offering a 20 bps concession on the above rates for top up loans linked to takeover loans. (For CIBIL score of 700 and above).

Loan Against Property:

The bank is offering 30 bps concession on loan against property for credit score equal to 700 or more than 800.

Borrowers whose credit score is equal to or above 800 will face an interest rate of 10.60% on P-LAP under the campaign proposal as against the normal rate of 10.90%. The rate will be 10.70% on 750-799 credit scores, against the usual rate of 11%, and it will be 10.80% on 700-749 scores, against the usual rate of 11.10%.

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The rest of the rates are kept unchanged on credit scores less than 700. SBI charges 11.20% on 650-699 credit score, 11.30% on 550-649 credit score and 11.10% on NTC/NO CIBIL/-1 score.

In addition, SBI said, a concession of 5 bps on card rates for MaxGain and Realty loans (excluding all types of CRE loans) for borrowers with a CIBIL score greater than or equal to 750.

It said that the first disbursement in the loan account is to be made by March 31, 2023.