SBI Home Loan
State Bank of India provide home loans to many different sections as per their requirement and needs. Home loans are types known for having the longest tenure a person can avail in his life. That’s why a person enquires and consults with multiple banks to choose the most convenient loan option at the lowest interest rates. SBI home loans are specially designed in terms of convenience & interest rates for salaried ones.
Role Of CIBIL Score
CIBIL score is the factor of trust in the credit world for financial institutions to become your lender. CIBIL score is a rating given to a person to show his creditworthiness. Most banks provide interest rates to individuals based on their CIBIL score.
As per Bank’s website, “CIBIL Score is a 3-digit numeric summary of your credit history, rating, and report, and ranges from 300 to 900. The closer your score is to 900, the better your credit rating is.”
SBI’s Regular Home Loan Features:
- Low-Interest Rates
- Convenient Processing Fee
- Low Processing Fee
- No Prepayment Penalty
- Repayment up to 30 years
- Interest Concession for Women Borrowers
Also read:These 5 Government Companies Are To Be Privatised This Year
SBI Home Loan Interest Rates & RBI Repo Rates
Before applying for the SBI home loans you should know that variations in interest rates occur as per repo rates. Recently RBI has announced that Repo rates will remain the same as the current 4 percent.