This makes SBI the first bank in the country to achieve this milestone. In January 2021, when the home loan book of SBI Bank crossed Rs.5 lakh crore, the bank is proud to have achieved the record of being the first lender to reach the milestone of Rs.6 lakh crore in the residential home category.
Amidst this achievement, SBI aims to provide affordable home loans to all prospective home buyers during the current festive season. SBI Bank has announced some offers for home loan borrowers.
According to this offer, the interest rate will be reduced by 25 bps from 8.40 percent and the processing fee will be waived till January 31, 2023. Apart from this, 0.15% discount on top-up loans, 0.30% discount on loan against property and low interest on balance transfers have also been announced.
Commenting on this successful milestone, Dinesh Kara, Chairman, SBI Bank mentioned that amid this achievement, our bank has around 28 lakh home loan customers. Also, ‘SBI, a leader in home finance, is helping every Indian realize his dream of owning a home.
Continuous process and digital initiatives over the past few years have been instrumental in our journey towards a Rs 6 trillion valuation.
SBI continues to work towards fulfilling the dream of Indians to own their own home. We are working hard to realize our government’s dream of a home for all’, he said.
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Alok Kumar Chaudhary, Managing Director, Retail Banking & Operations, SBI said that the interest rate for new borrowers will start from 8.40 per cent and top-up loans will start from 8.80 per cent.
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