Highlights
Processing fee on home loans is back.
Processing fee along with GST.
New Delhi: Country s largest lender State Bank of India (SBI) has hiked its home loan by 25 basis points (bps) effective from April 1, 2021.
After the latest revision, the lowest rate of 6.70 percent regime for limited period ended in March 31. SBI has now revised its home loan rates from 6.70 percent to 6.95 percent.
During the limited period that ended in March, SBI had offered home loan starting from 6.70 percent for loans up to Rs 75 lakh and 6.75 per cent for loans in the range of Rs 75 lakh-Rs 5 crore.
The State Bank of India will also levy a consolidated processing fee on home loans. This will be 0.40 percent of the loan amount and goods and services tax (GST) subject to a minimum of Rs 10,000 and maximum of Rs 30,000 plus GST. Last month, SBI had in waived off home loan processing fees till March 31.
State Bank of India's revised home loan interest rate is likely to prompt other lenders to follow suit. It is a sign that home loan interest rates will be hiked further. Here is all you need to know:
SBI increases interest rates on home loans
State bank of India (SBI) Revised home loan interest rates: The country s biggest lender last month announced a special offer on home loans, valid until March 31
BusinessToday.In | April 5, 2021 | Updated 13:53 IST
SBI Home Loan: The rates were effective from April 1, the bank said on its website
The State Bank of India (SBI) has revised its home loan rates, hiking them by 25 basis points (bps) or 0.25% to 6.95% from 6.70% earlier.
The rates were effective from April 1, the bank said on its website. The move is likely to prompt other lenders to follow suit and increase interest rates on their home loan offerings.
India Business News: The country’s largest lender SBI has said on its website that its home loan rates will start from 6.95%, effective April 1. Last month, the public sec
Country’s largest lender State Bank of India (SBI) has revised its home loan rate to 6.95 per cent effective April 1. With the revision, the lowest rate of 6.70 per cent regime for limited period ende