SBI home loan: Check State Bank of India festive season benefits; see how to apply, check full process here

SBI Home Loan Via YONO: As the festive season approaches, the State Bank of India (SBI) customers have a reason to rejoice despite the ongoing COVID-19 pandemic. The largest public sector bank in the country has rolled out a number of benefits on home loans that home buyers can avail. In case of any query, the interested customers can login to homeloans.sbi.

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SBI offers credit score linked home loans at just 6.70 percent, irrespective of the loan amount. Earlier a borrower availing a loan greater than Rs 75 lakh, had to pay an interest rate of 7.15 percent.

With the introduction of the festive offers, a borrower can now avail home loan for any amount at a rate as low as 6.70 percent. The offer results in a saving of 45 bps which translates to a huge interest saving of more than Rs 8 lakh, for a Rs 75 lakh loan with a 30-year tenure.

Further, the rate of interest applicable for a non-salaried borrower was 15 bps higher than the interest rate applicable to a salaried borrower. SBI has removed this distinction between a salaried and a non-salaried borrower.

Now, there is no occupation-linked interest premium being charged to prospective home loan borrowers. This would lead to a further interest saving of 15 bps to non-salaried borrowers.

In a tweet from the official Twitter handle of SBI, the bank said, "Kick-start your celebrations this festive season with SBI Home Loan and enjoy the exciting benefits on YONO SBI. Know More & Apply Now: homeloans.sbi." It must also be noted that the SBI is offering home loans this festive season with zero processing fees.

Kick-start your celebrations this festive season with SBI Home Loan and enjoy the exciting benefits on YONO SBI.
Know More & Apply Now: https://t.co/L7SN4HqGFg#SBI #StateBankOfIndia #HomeLoan #HarTyohaarShubhShuruaat #YONOSBI pic.twitter.com/VcsmBxfnAg

— State Bank of India (@TheOfficialSBI) September 23, 2021

Now, an SBI customer can apply for the home loans via SBI YONO app following some simple steps. They are as follows:

Step 1: The customers will have to login with the SBI YONO app

Step 2: The customers will have to click on the Hamburger menu

Step 3: Now, the customers will have to visit the loans menu and click on home loan option

Step 4: The user will have to do a quick eligibility check by providing the DOB

Step 5: The customer will have to now enter the income source, monthly net income and details of any other loans

Step 6: One has to now check the eligible loan amount and then proceed

Step 7: The customer will now have to fill in the details and click on submit

Step 8: The customer will receive a call from an SBI executive shortly

For further details and in case of any query, the prospective homebuyers can login to homeloans.sbi.