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SBI Offers Home Loans At Interest Rate Of 8.35%: Five Things To Know

In line with the governments push on affordable housing, State Bank of India or SBI is offering an interest rate of 8.35 per cent on home loans up to Rs. 30 lakh. Eligible borrowers of home loans from SBI, which last month cut its home loan interest rates to the lowest rate in the market, can also avail an interest subsidy up to Rs. 2.67 lakh under the Pradhan Mantri Awas Yojana, a government scheme aimed at providing subsidised housing loans to the low and middle income groups. Also, customers of other banks can also transfer their existing home loans to SBI at no processing fee charges! according to an advertisement by SBI.

Here are five things to know on SBIs affordable home loans scheme:

The revised rates are effective on new home loans from May 9, 2017. The rates are:

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