State Bank of India (SBI) announced concessions in home loan rates of up to 25 basis points (bps) for loans above ₹75 lakh based on CIBIL scores and if the loan application is made via its mobile application, YONO. Such a customer can now borrow at a rate of 7%.
SBI now offers CIBIL-based concession of up to 20 bps for loans above ₹75 lakh up to ₹2 crore, going up to ₹3 crore in 8 metros. An additional 5 bps concession is offered for loan applications made through YONO, SBI said in a statement. A CIBIL-based concession of up to 10 bps for loans above ₹30 lakh up to ₹75 lakh is also on offer.
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