Updated Mar 05, 2021 | 15:51 IST
ICICI Bank on Friday slashed home loan interest rates to 6.70% in a limited period offer valid until March 31, 2021. SBI Bank, Kotak Mahindra Bank, and HDFC Ltd announced similar offers in the last few days ICICI vs SBI vs Kotak Mahindra vs HDFC: Most economical home loan interest rates in market right now | Photo Credit: BCCL
Key Highlights
Historic low home loan interest rates will will encourage people to finally take a call and book their dream homes, feels Dhruv Agarwala, Group CEO, Housing.com
ICICI Bank, SBI Bank, Kotak Mahindra Bank and HDFC Ltd have slashed home loan interest rates in last few days
SBI announced its offer on the day it crossed the milestone of Rs 1-lakh-crore disbursement of home loans in FY21. (File photo)
MUMBAI: In a bid to grab as many home loan customers as possible before the fiscal year ends, State Bank of India (SBI) and Kotak Mahindra Bank have sweetened their offer in this segment by cutting interest rates by up to 10 basis points (100bps = 1 percentage point).
SBI now offers home loans of up to Rs 75 lakh for as low as 6.7% (to women salaried borrowers) the cheapest rate ever offered by the bank. SBI also continues to waive processing fees on all home loan applications. Kotak Mahindra Bank said that it would offer home loans for rates starting at 6.65% for both new purchases and balance transfers also its lowest rate ever.
SBI news: State Bank of India offers home loans at low interest rates, details here
According to the SBI, it has a market share of as high as 34 per cent in the home loan segment and it caters to around a thousand customers every day. (File image)
Updated: Mar 1, 2021, 03:05 PM IST
In important news for those looking to buy a new home, the State Bank of India (SBI) is providing a variety of home loans at low interest rates. Additionally, the largest lender in India has also let go of the processing fee for home loans when it comes to the projects approved by the SBI. The SBI is offering loans at interest rates starting from as low as 6.80 per cent.
Interested individuals should know that the interest concession on home loans is part of a limited offer by SBI. The public lender is also offering a full waiver on processing fees. Here is all you need to know:
State Bank of India on Monday is offering a limited period home loan offer, which offers lower interest rate and complete waiver of processing fees. More detials here.