SBI cuts home loan rate; ICICI offers attractive facilities

Photo related to home loan.

New Delhi: Major Banks including SBI and ICICI have decided take best use of festive fervour and have unveiled a host of benefits such as reduction in rates, waiver of processing fee and overdraft facility.

The SBI has further slashed interest rates by 0.15 per cent for its home loans up to Rs 75 lakh, while ICICI Bank is offering overdraft facility along with home loan.

SBI Home Loans are cheapest in the market and provide an excellent opportunity for both new home buyers as well as those who wish to switch over their home loan to SBI to save on EMI, the bank said in a statement.

SBI home loan would be available at 9.15 per cent while women borrower will get at 9.10 per cent.

Another market major ICICI Bank is offering the salaried having an account with it, credit from Rs 5 lakh going up to Rs 1 crore against property owned by them.

The product, ‘ICICI Bank Home Overdraft’, will offer dual advantage of a term loan as well as an overdraft facility, the bank said in a statement.