SBI special offer: You have only five days left to take advantage of this incentive, which is available here

SBI special offer: You have only five days left to take advantage of this incentive, which is available here

SBI: On January 31, 2024, State Bank of India (SBI) will conclude its special house lending campaign. SBI Bank is offering a home loan discount of up to 65 basis points (bps) as part of the deal. All home loans, including Flexipay, NRI, and Salary Class loans, are eligible for this reduction.

SBI: On January 31, 2024, State Bank of India (SBI) will conclude its special house lending campaign. SBI Bank is offering a home loan discount of up to 65 basis points (bps) as part of the deal. All home loans, including Flexipay, NRI, and Salary Class loans, are eligible for this reduction. The CIBIL score affects the interest rate on a house loan. Clients now have five more days to use this deal. Only those with excellent CIBIL scores will get this interest rate reduction on their house loans.

CIBIL Rating

A person's CIBIL Score is a three-digit score that provides information about their past and present financial stability. Your credit score and debt management history are also disclosed by your CIBIL score. The range of credit score values is 300 to 900. Experts claim that a person's payment history, credit usage ratio, length of credit history, new credit applications, public records, and total amount of outstanding loans all have an impact on their CIBIL score.

What is the amount of the CIBIL score-based house loan discount?

Those with CIBIL scores of 750–800 or above are eligible for a house loan interest rate of 8.60% during the offer. A 65 basis point, or 0.55 percent, discount is applied to this. During the SBI promotion, customers with CIBIL scores between 700 and 749 get a 0.55 percent discount. Thus, the loan will be offered at an 8.70 percent interest rate. However, for CIBIL scores between 550 and 699, the bank does not provide any relaxation. You will have to pay back the loan at a rate between 9.45% and 9.65% in order to get one.