SBI: The special home loan campaign of State Bank of India (SBI) is going to end on 31 January 2024. Under the home loan offer, SBI Bank is giving a discount of up to 65 basis points (bps) on home loans. This discount is valid for all home loans, including Flexipay, NRI, Salary Class.
SBI : The special home loan campaign of State Bank of India (SBI) is going to end on 31 January 2024. Under the home loan offer, SBI Bank is giving a discount of up to 65 basis points (bps) on home loans. This discount is valid for all home loans, including Flexipay, NRI, Salary Class. The interest rate on home loan varies depending on the CIBIL score. Now customers have five days left to take advantage of this offer. This discount on home loan interest will be given to the customers only if your CIBIL score is good.
CIBIL Score
CIBIL score is a three-digit number that tells about the financial credibility and history of an individual. CIBIL score also tells about how you have managed your loan or credit card. The value of credit score ranges from 300 to 900. According to experts, CIBIL score of any person is affected by payment history, credit utilization ratio, length of credit history, new credit applications, public records and total outstanding loan.
How much discount will be given on home loan based on CIBIL score?
The home loan interest rate during the offer is 8.60% for CIBIL scores of 750-800 and above. There is a discount of 65 basis points i.e. 0.55 percent on this. For CIBIL score between 700 to 749, a discount of 0.55 percent is available during the SBI offer. Then the loan will be available at the rate of 8.70%. However, the bank is not giving any relaxation for CIBIL score up to 550-699. To take the loan, you will have to repay the loan at the rate of 9.45% and 9.65%.
