SBI Home Loan At 8.35% Interest Rate: 5 Things To Know
SBI's revised rates effective on new home loans from May 9, 2017 Eligible borrowers can also avail interest subsidy up to Rs 2.67 lakh Affordable housing poised for major leap forward in near future, says SBI
In line with the government's push on affordable housing, State Bank of India or SBI is offering an interest rate of 8.35 per cent on home loans up to Rs 30 lakh. Eligible borrowers of home loans from SBI, which last month cut its home loan interest rates to the lowest rate in the market, can also avail an interest subsidy up to Rs. 2.67 lakh under the 'Pradhan Mantri Awas Yojana', a government scheme aimed at providing subsidised housing loans to the low and middle income groups. Also, customers of other banks can also transfer their existing home loans to SBI at "no processing fee charges!" according to an advertisement by SBI.
Here are five things to know on SBI's affordable home loans scheme:
The revised rates are effective on new home loans from May 9, 2017. The rates are:
| Two year fixed interest rate home loans up to Rs 30 lakh: | |
| For salaried: | |
| Borrower type | Effective rate of interest |
| Women | 8.35% |
| Other | 8.40% |
| For non-salaried: | |
| Women | 8.50% |
| Others | 8.55% |