As a step to push retail credit in festive season, State Bank of India will an interest concession upto 25 basis points for home loans above Rs 75 lakh. The extent of concession is linked credit score and application made through lender’s digital lending app YONO.
It also increased credit score linked concession up to 20 basis points from 10 basis points earlier for a home loan of above Rs 30 lakh to Rs 2 crore across India. The same concession would also be applicable home loans up to Rs three crore in eight metro cities, SBI said in a statement.
C S Setty, MD (Retail & Digital Banking), SBI said with the nation all geared up to the post-Covid era, we are witnessing increased customer demands. SBI will continue to offer lucrative benefits suiting needs and requirements of the customers.
Early this month, its new chairman Dinesh Khara after taking charge said Post the gradual withdrawal of restrictions, economic activity has slowly picked up pace, and his bank was witnessing a credit growth of around 6-7 per cent as of now.
Although there are concerns in some sub-segments, its business was back to 70-80 per cent of pre-covid levels. The retail credit growth is doing quite well, Khara added.
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