New Delhi: India’s largest lender State Bank of India (SBI), offering further cheer to women borrower on International Women’s Day, has announced reduction of interest on home loans by further basis points.
“As we celebrate Women’s Day, SBI is proud to announce additional concession of 5bps to women borrowers,” a newspaper advertisement by SBI read.
SBI home loan now starts at interest starting as low as 6.70% per annum, while the bank commands a market share of 34% in the home loan segment.
SBI has also completely waived the processing fee till March 2021 for customers availing home loans in SBI approved projects. The Bank is also working on themes like focused development of the Home Loan business, refined analytics for boosting growth, easing home loan journey for customers, and post disbursal engagement with home loan customers.
In February 2021, State Bank of India (SBI) has reached another landmark by crossing the Rs. 5 trillion (5 Lakh crore) mark in its home loan business. The bank has set its sight on achieving a home loan AUM of Rs. 7 trillion by FY 2024.
The Bank has also launched a new facility for new home loan customers who can get all information on home loans by giving a missed call on 7208933140.