Today, everyone dreams to build their own house. But due to this rising inflation, this dream of many people remains just a dream. If you also want to build your own house, but you are not able to build it due to low budget. Then you do not need to worry. Now SBI is giving SBI home loan especially for you. So let’s know about this loan in detail.
SBI Home Loan Interest Rates
State Bank of India provides different types of home loan facilities. These facilities have been prepared according to the eligibility and requirement of the customers. The interest rate of home loan starts from 8.50% per annum. This interest rate depends on your loan amount, loan term, credit score, type of loan.
SBI home loan facility
SBI provides different types of home loan facilities. According to which its interest rates also change. In which SBI regular home loan has an annual interest rate of 9.25% to 9.75%. Apart from this, SBI Reality Home Loan has an interest rate of 9.45% to 9.85%.
SBI Tribal Plus Home Loan has an interest rate of 9.25% to 9.75%. Commercial Real Estate Home Loan has an interest rate of 9.35% to 9.85%. Top Up Loan has an interest rate of 9.55% to 10.15% and Loan Against Property has an interest rate of 10.90% to 11.30%.
Home loan amount and interest rate
The higher the home loan amount, the more it affects the interest rate. Higher interest rate has to be paid for longer loan period. Having a good credit score gives a discount in the interest rate. The bank provides some offers and discounts from time to time, which reduces the interest rate.
Special discount for women
SBI Bank gives special discount to women on taking home loans. Under the regular home loan scheme, women are given a discount of 0.05% in the interest rate. That means they have to pay a little less interest rate than other applicants. This loan can be taken by any person between 18 to 70 years. The processing fee for this can be 0.35%.
Special initiative for women – Har Ghar Yojana
This scheme has been started especially for those women who live in a rented house. Therefore, they want to build their own dream house. To make this dream of women come true, the bank has started a unique initiative of Har Ghar Yojana.
Under which the bank allows women to become the main applicant, whether they have any regular source of income or not.