SBI home loan: India’s largest lender State Bank of India (SBI), offering further cheer to women borrowers on International Women’s Day, has announced the reduction of interest on home loans by further basis points. “As we celebrate Women’s Day, SBI is proud to announce additional concession of 5bps to women borrowers,” “On Women’s Day, we make it special with an additional concession of 5 bps* to women borrowers and interest starting at 6.70%* onwards,” country’s top lender said in a tweet.

The announcement has been made on international women’s day which is celebrated across the world on March 8 every year.

The offer, exclusive for women, will be valid till March 31. As part of this, SBI customers who avail home loans via the YONO app will get an additional interest concession of 5 bps.

SBI has already slashed the interest rate on home loans starting at 6.70 percent for people with a good CIBIL score, as of March 1. The country’s largest lender now offers an interest concession of up to 70 bps (basis points). The lender has also offered a 100 percent waiver on processing fees. The Bank is also working on themes like focused development of the Home Loan business, refined analytics for boosting growth, easing home loan journey for customers, and post disbursal engagement with home loan customers.

The State Bank of India provides a host of home loan options for the customers apart from the regular home loan plans. These include — SBI Privilege Home Loan for government employees, SBI Shaurya Home Loan for Army and Defence personnel, SBI MaxGain Home Loan, SBI Smart Home, Top-up Loan for existing customers, SBI NRI Home Loan, SBI FlexiPay Home Loan for a home loan of a higher amount, as well as SBI HerGhar Home Loan for women.

Meanwhile, other lenders including ICICI Bank, Housing Development Finance Corporation (HDFC), and Kotak Mahindra Bank also slashed the interest rates on home loans.