Bank Processing Fee: SBI has said that the interest rate will be reduced by 5 basis points i.e. 0.05 percent if applied for home loan through YONO app. This Monsoon Dhamaka offer is for a limited time only.
New Delhi. If you want to build a house by taking a home loan from State Bank of India (SBI), then do this work quickly. This is because State Bank of India has announced not to charge processing fees on home loans till August 31, 2021. This can be availed by only those people who are interested in taking a home loan till August 31. The country’s largest bank SBI (State Bank of India) has given this exemption in processing fees to customers for a limited time under the Monsoon Dhamaka offer.
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5 basic point discount in interest rate
SBI has said that if you apply for a home loan from its YONO app, then a discount of 5 basis points i.e. 0.05 percent will be given in the interest rate. This will benefit more and more home loan customers. Along with this, the sentiment of the real estate market will also improve.
best time to buy home
SBI has said that this may be the best time to buy a house due to Corona as its home loan rates are starting from 6.70 percent, which is very low. Along with this, the processing fee of home loan under the Monsoon Dhamaka offer is also not being charged till August 31, 2021. The special thing is that at present the home loan rates are the lowest.
Other banks can also announce exemption on HL
It is more likely that after State Bank of India, other banks of the country will also announce exemption in processing fee. Along with this, the government is also giving incentives to keep home loan rates low. Let us tell you that at present most of the banks are charging 6 to 7 percent interest on home loans.
Employment opportunities will increase
If other banks also announce home loan waiver, then it will have the biggest impact on the real estate market. This is the reason why it is the most employable sector. If the pace of construction of houses increases, then employment also increases. Apart from this, home loan is also a very profitable deal for banks. This is a secured loan. Banks earn interest on this for 20 to 25 years. Hence, there is a lot of competition among banks in the home loan market.
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