SBI home loans: People can save Rs 530 per month on EMIs
SBI has announced a steep reduction of 25 basis points in affordable housing loans to 8.35 per cent for new borrowers. For loans up to Rs 30 lakh, the effective interest rate for all eligible salaried customers will be 8.35 per cent per annum.
Under the Pradhan Mantri Awas Yojana scheme, an eligible home loan customer can also avail of an interest subsidy of Rs 2.67 lakh. SBI Managing Director for national banking, Rajnish Kumar, said, “For male borrowers, the limited period offer is valid till July 31 and the reduction of 20 bps to 8.40 per cent.
The new rate reduction of 25 per cent for women will be for the salaried borrowers and for the non-salaried, it will be 20 bps cut.
Commenting on the affordable home loan rates, Kumar added that this move is a giant leap for Prime Minister’s vision of providing ‘housing for all’ by 2022.