SBI home loan lending rate (without concession)
According to the SBI website, regular home loans come with a minimum interest rate of 8.90 percent for borrowers with credit scores of 800 or above (EBR+0 % 8.90%). In this instance, there is no risk premium. The risk premium is based on the CIBIL score; the lower the credit score, the greater the rate of the risk premium.
A credit score of 750 to 799 will result in a 9% interest rate; the risk premium in this case is 10 basis points (EBR+0.10%). The interest rate for a CIBIL score of 700-750 is 9.10%, with a risk premium of 20 basis points (EBR+0.20%). The interest rate is 9.20% for scores between 650 and 699, with a risk premium of 30 basis points (EBR+0.30%). Female borrowers will receive a 0.05% discount on these loans.
SBI home loan lending rate (concession)
The below rates are offered only during the campaign valid up to March 31, 2023.
For CIBIL scores for 800 and above, the effective rate during the period is 8.60%, a concession of 30 bps (EBR-0.30 %. For home loan borrowers with CIBIL score between 750 – 799 will get a 40 bps concession and interest rate offered is 8.60% (EBR-0.30 %)
SBI home loan borrowers with CIBIL score between 700 -749 will attract an interest rate of 8.70%, a concession of 40 bps (EBR-0.20%).
Note that these rates applicable for regular home loan, flexipay, NRI, non-salaried, privilege, Apon ghar.
Things to note
- Premium of 10 bps for loans up to 30 lacs for LTV >80% &
- The above rates are inclusive of 5bps concession available to women borrowers and 5 bps concession available for salary account holders for Privilege and Apon Ghar.
- For Shaurya & Shaurya Flexi Product: 10 bps concession over the above proposed rates to enhance our offerings for serving defence personnel.