SBI concessional home loan festival Offer 2021– Mumbai: State Bank of India (SBI), the largest public sector bank, has slashed interest rates on home loans to 6.70 per cent as a festive gift.

The bank has also announced that it will not charge any processing fee for the loan. However, this home loan concession will be limited to the festive period only.

SBI concessional home loan festival Offer

Irrespective of the size of the home loan amount, it will be available at a low interest rate of 6.70%. The drive to provide home loans at concessional interest rates will be implemented in two phases.

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SBI Chief General Manager Umesh Kumar Pandey said on Friday that the first phase will run from September 1 to October 31, while the second phase will run from November 1 to December 31. While announcing the interest rate cut on Thursday, the bank did not say when it would be effective.

PNB cut repo rates festive season

Punjab National Bank (PNB) has also cut repo rates by five per cent during the festive season. Now the interest rate has come down from 6.80 percent to 6.55 percent. The new rates have been implemented from September 17.

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