SBI Home Loan: State Bank of India (SBI), the country’s largest government bank, has given gifts to crores of its customers before Dhanteras-Diwali. State Bank of India has revised MCLR. This time the bank has neither increased nor reduced the MCLR. That means, your EMI is not going to increase during the festival. MCLR rates are linked to your home and car loan rates. That is, there will be no change in your home and car loan EMI. These rates have come into effect from today, October 15.
SBI MCLR rates
Overnight and 1 month MCLR is now 7.90%. MCLR of one month will be 7.90, three months 8.30, 6 months 8.65, one year 8.75, 2 years 8.80 and three years 8.85 percent.
Home Loan Processing Fee
SBI charges a processing fee of 0.35% on home loans (exclusive of GST), with a minimum limit of Rs 2,000 and a maximum of Rs 10,000.
What is CIBIL score?
CIBIL is a credit information company, which gives your credit history and score. A better score means the possibility of getting a loan at a lower interest rate. Apart from this, Experian, Equifax and Highmark are also recognized credit agencies of RBI.