SBI Home Loan

The deposit and lending rates are directly proportional to the repo rate, and they generally go up if the benchmark rate is hiked

SBI's loan book crosses Rs 6-trn mark

Despite rising interest rates, leading home loan players SBI and HDFC have announced discounted interest rates beginning at 8.40 per cent as part of their festive offerings. SBI in a statement said that its home loan book has topped the Rs 6 lakh crore mark, a first in the industry. The leading lender said it is offering up to 25 bps discount on interest rate to new home loan borrowers, making the entry level rate at 8.40 per cent and the offer will run up to January 31, 2023. The largest pure-play mortgage player HDFC, which is awaiting its merger with its banking subsidiary HDFC Bank, said it's also offering discounted interest rates to new borrowers to the tune of 20 bps or at 8.40 per cent. According to HDFC website, the festive offer is valid up to November 30, and the low rate will be applicable to those borrowers who have a minimum credit score of 750. Leading banks and mortgage players have increased their lending rates by up to 0.50 percentage point after the Reserve Bank

The nation's largest lender State Bank on Wednesday said its home loan book has surpassed the Rs 6-lakh-crore-mark, making it the largest in the industry. To mark the occasion, the bank also announced a festive offer for home loan buyers, offering up to 25 bps discount on interest rate starting at 8.40 per cent and also the waiver of the processing fee till January 31, 2023. The lower interest will also be applicable to balance transfers. The bank had crossed the Rs 5 lakh crore mark in January 2021, the bank said in a statement, adding it is the first lender to achieve the Rs 6 lakh crore milestone in the residential home category. As a part of the festive offer, SBI will offer a concession of up to 0.25 per cent on home loans, 0.15 per cent on top-up loans, and 0.30 per cent on loans against property, the bank said, adding the offer also includes waiving off the processing fees up to January 31, 2023. Commenting on the milestone, its chairman Dinesh Khara said SBI has over 28 lak

IIFL HFL, a digital-first home finance company, has signed an agreement with SBI for co-lending of priority-sector home loans

For new home loans of Rs 75 lakh and above, SBI will charge 6.7 per cent as against the previous 7.15 per cent

The country's largest lender State Bank of India (SBI) on Saturday announced waiving processing fee on home loans till August-end. Currently, the processing fee on home loans is 0.40 per cent. SBI said it is the bank's limited period 'Monsoon Dhamaka Offer', through which a home loan customer can gain substantially. The state-owned lender said the offer will help revive the consumer sentiments. "There could not be a better time to buy a house, considering SBI home loan interest rates start at just 6.70 per cent," SBI said in a release. The Monsoon Dhamaka Offer is for a limited period ending on 31st August 2021, SBI said. "We believe this offer of processing fee waiver will facilitate and encourage home buyers to take decision with ease, as interest rate is at its historic low. We strive to be a banker to every Indian and thereby, be partners in nation building," C S Setty, MD (Retail & Digital Banking), SBI said. There will be a concession of 5 bps (0.05 percentage) for home ...

Low home loan rates by banks could put large players in an advantageous position over smaller non-bank players, believe analysts

Sanctions loans worth Rs one trillion till date in FY21

SBI home loan interest rates start from 6.7% for loans up to Rs 75 lakh and 6.75% above Rs 75 lakh; the lender is also offering 100% waiver on processing fees

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