NEW DELHI: SBI mortgage interest rate – Bad news for home buyers, the State Bank of India (SBI) raised interest on home loans to 6.95 percent from 6.70 percent. The new interest rate revised by the SBI on mortgage loans entered into force from April. Until March 31, SBI was offering interest rates on home loans ranging from 6.70% for loans up to Rs 75 lakh and 6.75% for loans ranging from Rs 75 lakh to Rs 5 crore.Also Read – CBFC Passes Sooryavanshi With ZERO Cuts And U / A Certificate, Perfect Runtime For Akshay Kumar Movie
SBI 2021 mortgage interest rate
State Bank of India offers different interest rate brackets for home loans on loan amount for employees. Also Read – Virat Kohli wax statue unveiled at Madame Tussauds in Dubai, PIC goes viral
1. If an employee borrows up to Rs 30 lakh, the effective interest rate of the SBI mortgage will be 7%. Read also – High alert in Assam after Intel on a possible terrorist threat from Pakistani ISI, Al-Qaeda
2. If an employee borrows between Rs 30 lakh and Rs 75 lakh, the effective interest rate of the SBI mortgage will be 7.25%.
3. If an employee borrows more than Rs 75 lakh, the effective interest rate of the SBI mortgage will be 7.23%.
During this time, a bonus of 15 basis points (bps) will be added to the card price for non-salaried customers.
SBI mortgage interest rate for women
The State Bank of India offers lower interest rates for home loans to women. A concession of around five basis points will be offered to women in the interest rates of SBI home loans.
Under the âSBI Privilege and Shaurya Schemesâ, when the direct debit facility is provided by the government department or the defense institution in a partnership with the State Bank of India, the interest rate of home loans applicable to women will be applicable to men or others.
SBI mortgage processing fees
The SBI has also said it will also levy a consolidated processing fee on home loans. This will be 0.40% of the loan amount and the Goods and Services Tax (GST) subject to a minimum of Rs 10,000 and a maximum of Rs 30,000 plus GST.
You can call SBI’s 24 Ã 7 helpline on the toll-free number 1800 11 2211, 1800 425 3800 or the toll-free number 080-26599990 to find out which mortgage rates are right for you.