On September 16, State Bank of India offered a slew of seasonal incentives for prospective house loan clients. In a press statement, India’s largest lender said that, in a first-of-its-kind effort, it is offering credit score related house loans at 6.70 percent, regardless of loan amount.
The incentives are intended to make house loans more accessible during the holiday season, according to the bank.
SBI has also fully eliminated the processing expenses. The bank has also abolished the difference between salaried and non-salaried borrowers. There is no longer an occupation-linked interest premium paid to potential house loan customers, resulting in a 15-bps interest savings for non-salaried borrowers, according to the bank.
