SBI offers up to 65 bps discount on home loan interest rates to these borrowers. Are you eligible? Check here

livemint.com:

home loan borrowers, the country's top lender is offering concessions of up to 65 basis points (bps). The last date for the concession on home loans is 31 December 2023, the lender mentioned on its website. The concessions are based on the CIBIL score.

CIBIL Score is a three-digit numeric summary of a borrower’s credit history. Simply put, it means how well you have managed your finances, like a home loan, personal loan, or credit card, in the past. The value of Credit Score may range between 300 to 900.

“Key factors affecting a person's CIBIL score include payment history, credit utilization ratio, credit mix, credit history length, new credit applications, public records, derogatory marks, total outstanding debt, and credit account age," said Mahesh Shukla, CEO & Founder, PayMe For CIBIL Scores ranging between 750-800 and above, the home loan interest rate during the offer period is 8.60%, a concession of 55 bps. For CIBIL Scores ranging from 700 to 749, SBI is offering a discount of 65bps during the offer period. The effective rate during the offer period is 8.7% However, for CIBIL Scores ranging from 550-699, the bank is not offering any discount.

The effective rate is 9.45% and 9.65% respectively. For CIBIL Scores ranging from 151-200, SBI is offering a discount of 65bps during the offer period. The effective rate during the offer period is 8.7% However, for CIBIL Scores ranging from 101-150, the bank is not offering any discount.

The effective rate is 9.45%. 20 bps additional concession over the above-proposed rates (For CIBIL Score of 700 and above). 5 bps additional concession over the above-proposed rates 10 bps additional concession over the above campaign rates.