State Bank of India (SBI) customers, listen up! Here’s some fantastic news just for you.
If you’re considering a home loan, now’s the time to act.
SBI is offering an exclusive discount of up to 55 basis points on the original card rate for home loans.
But hurry, because this offer ends on August 31, 2023, giving you just 3 more days to seize this opportunity.
What’s the Deal?
SBI’s website highlights an impressive 50% discount on the card rate for all Home Loan (HL) and top-up versions.
To take advantage of this, a minimum processing fee of Rs 2,000 and a maximum of Rs 5,000, along with GST, will apply.
However, please note that this discount doesn’t extend to Insta Home Top Up, Reverse Mortgage, and EMD processing fees.
Let’s Break Down the Numbers
Standard Home Loan Processing Fee
Normally, the processing fee for home loans, without any discount, amounts to 0.35% of the loan amount, plus applicable GST.
This translates to a minimum of Rs 2,000, along with GST, and a maximum of Rs 10,000, plus GST.
CIBIL Score Breakdown
CIBIL Score 750-800
If your CIBIL score falls within this excellent range, the regular processing fee is 9.15%. However, during this special offer period, you’ll enjoy a discount of 45 basis points, lowering your processing fee to 8.70%.
CIBIL Score 700-749
For those with a CIBIL score ranging from 700 to 749, a generous discount of 55 basis points on processing fees awaits.
With this discount, the processing fee stands at 8.80%, as opposed to the usual 9.35%.
CIBIL Score 650-699
If your CIBIL score falls between 650 and 699, unfortunately, no processing fee discount applies.
Act Now!
With this limited-time offer from SBI, securing your dream home through a home loan is more attainable than ever.
Don’t miss out on the chance to save on processing fees and make the most of this opportunity before it’s gone.
