SBI clarifies on home loan rates, declares original interest rates restored

State Bank of India has recently clarified on the recent hike on the home loan interest rates.

“In the last few days, there have been news items reported in the press including media regarding hike in SBI Home Loans Interest Rates. In this regard we clarify that limited period special concessions offered during festive season have come to an end on 31 March 2021 and thereafter withdrawn.”

As per SBI, there is no hike in the home loan interest rates. The bank states that the original interest rates starting from 6.95% have been restored. However, the special concessions offered to the women borrower is continuing.

Last month, SBI had waived off home loan processing fees till March 31, 2021 to cash in on festive fervour. During the limited period, the bank offered home loan starting from 6.70% for loans up to Rs. 75 lakh and 6.75% for loans in the range of Rs. 75 lakh to Rs. 5 crore. SBI also gave a 100% waiver on processing fees.