Attention home buyers! SBI announces interest rate concession on home loans | Details inside
New Delhi | Jagran Business Desk: In what could be a new year's gift for home buyers, the State Bank of India (SBI) on Friday announced an interest rate concession of up to 30 bps on home loans in eight cities and 100 per cent waiver on processing fees.
In a statement, the SBI, which India's largest home loan lender, said that it hopes its new offer will attract home buyers and will offer better rates to customers with "good repayment history".
Notably, SBI interest loans are linked to Credit Information Bureau (India) Limited (CIBIL) score They start from 6.80 per cent for loans up to Rs 30 lakh and 6.95 per cent for loans above Rs 30 lakhs.
The bank has also announced that it will offer 5 bps concessions on balance transfer, adding that women borrowers will get an additional concession of 5 bps.
"We are pleased to improve our concessions to prospective home loan customers up to March'21. With SBI's lowest interest on home loans, we believe this move will facilitate and encourage home buyers to take the home buying decision with confidence," SBI MD (Retail & Digital Banking) CS Setty said, as reported by ZeeBusiness.
"With the nation all geared up to move ahead post-pandemic, SBI would continue to support the home buyers and the Real Estate Sector. Further, our eligible existing home loan borrowers can also avail a paperless pre-approved Top-up home loan through the YONO App in just a few clicks. We wish the new year brings in happiness to our customers with new offerings," he added.
SBI raises USD 600 mn from overseas bond sale at 1.80 pc coupon
Meanwhile, the SBI on Thursday said that it has raised nearly USD 600 million from selling bonds to international investors at a coupon of 1.80 per cent. This is the first public USD bond sale by an Indian bank since the beginning of coronavirus pandemic last year.
In a statement, the bank said that the "transaction was well received and saw strong interest from investors across geographies with a final order book over USD 1.9 billion".
The issue, oversubscribed by 2.1 times, is part of SBI's USD 10 billion medium-term note programme, the ratings of which were withdrawn by the rating agency Moody's on Wednesday.
Posted By: Aalok Sensharma