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SBI has given a great gift to home buyers in the new year, cut interest rates

drastically, also announced a 100% discount on processing fees.

State Bank of India (SBI) has given a tremendous gift to people thinking of getting a new home in the new year. The bank has announced a steep cut of 0.30 percent in interest rates on home loans.

State Bank of India (SBI), the country’s largest state-run bank, has given a tremendous gift to people thinking of getting a new home in the new year. The bank has announced a steep cut of 0.30 percent in interest rates on home loans. Along with this, the bank has announced a 100 percent discount on processing fees. A press release issued by the bank stated that being the market leader in the home finance sector, it will continue to take steps from time to time to boost the customer sentiment. From time to time, the bank is offering many types of offers on home loans.

The press release issued by the bank said that it now offers more discounts on home loans based on the loan amount and CIBIL scan, making its already ongoing offers more attractive. According to SBI it is important to offer better interest rates to customers having a good record of loan payments.SBI’s home loan interest rates are linked to the CIBIL score and for loans up to Rs 30 lakh, the rate is 6.80 percent and for loans above 30 lakh, the rate of interest is 6.95 percent. The bank has said that a concession of 0.30 percent in interest on loans for up to five crore is available in eight cities of the country.

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