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SBI's Home Loans: Interest Rates And Other Features Explained Here

SBI offers low interest rates. Interest is calculated on a daily reducing balance, SBI said.

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SBI's Home Loans: Interest Rates And Other Features Explained Here

SBI charges low charges processing fees and there are no hidden costs or administrative charges.


State Bank of India (SBI), the largest lender of the country, is offering attractive interest rates on home loans. "Grab the keys to your dream home with attractive interest rates on SBI Home Loans. Hurry! Your dream home awaits. Visit https://homeloans.sbi/  to apply," SBI said on its Twitter handle, @TheOfficialSBI. SBI claims to be offering affordable home loans, it said on its website, homeloans.sbi. For home up to Rs 30 lakh, SBI is charging an interest rate of 8.35 per cent. Under the Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS), home buyers will also get an interest subsidy of Rs 2.67 lakh.
 
Here are five features of SBI home loans that you must know:

SBI offers a package of exclusive benefits for home buyers, it said.

SBI offers low interest rates. Interest is calculated on a daily reducing balance, SBI said.

SBI home loans are also available as an overdraft. It will help customers optimally utilize their surplus funds, said SBI.

SBI charges low charges processing fees and there are no hidden costs or administrative charges.

There are no prepayment penalties on SBI home loans. Customers can reduce their interest burden by prepaying the loan.

SBI Home Loans is the largest mortgage lender in India, which has helped over 30 lakh families achieve the dream of owning a home, SBI said.

SBI offers various products under its home loans. These are as follows: SBI regular home loans, SBI balance transfer of home loan, SBI Flexipay home loan, SBI privilege home loan, SBI Shaurya home loan, SBI pre-approved home loan, SBI realty home loan, SBI home top up loan, SBI bridge home loan, SBI tribal plus, SBI earnest money deposit, SBI reverse mortgage loan, SBI commercial real estate home loan, and SBI loan against property.

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