What is the interest rate of home loan in SBI Bank for female?

I bought a house in 2022, and for that, I opted for a home loan. An SBI home loan executive explained the details of the home loan to me. He also explained that if I took out the home loan in my wife’s name, then the home loan interest rate would be much lower. After this, I asked him about the SBI home loan interest rate female and he informed me it was around 9.40% p.a.

What is the SBI Home Loan Interest Rate for Female?

As I mentioned above, under SBI's "Her Ghar" scheme, home loans are offered to women applicants at an interest rate of 9.40% per annum. This scheme is also extended to the first co-applicants, who are women. The mentioned interest rate is 20 bps above the MCLR of 9.2% per annum. 

Apart from the SBI home loan interest for female, I have also mentioned the documents required for the home loan, which are

• Duly filled home loan application form

• Three passport-size photographs

• Copies of identity proof, such as driving license or passport or voter ID. 

• Utility bills as address proof. 

• Last six months' bank account statement.

• Liability statements and personal assets.

• Signature identification from the current bankers

And that’s about it. I hope this information about the SBI home loan rate of interest for female has been helpful. 

I was planning to take a home loan from SBI Bank. Then, my father told me that there must be some concession available for the female category. So, I went to the bank and asked the branch manager about the SBI home loan interest rate female. Then I learned about the concession given to women under the SBI Her Ghar Home Loan Scheme. If you're a female and wish to borrow a home loan, scroll down to learn about the discount interest rate offered by SBI.

What is the SBI Home Loan Interest Rate for Women?

For female borrowers, the interest rate on a home loan from the State Bank of India varies depending on a number of variables, including the loan amount, the borrower's income, credit score, etc.

• Female borrowers receive home loans from SBI Bank at a cheaper interest rate than male borrowers do. This is due to the special concession of 5 basis points, i.e. 0.05% interest rate. 

• The SBI Home Loan for Womens Interest Rate will now start from 9.1%. This rate will be given only if your CIBIL score must be greater than or equal to 750.

• Moreover, the interest rate will vary based on your CIBIL score. If you have a low score, then the interest rate for your home loan will increase.

• You can check the interest rates based on your CIBIL Score here -

  https://sbi.co.in/web/interest-rates/interest-rates/loan-schemes-interest-rates/home-loans-interest-rates-current

  . 

So, choosing a house loan from SBI Bank is advantageous for female borrowers, as they can take advantage of a cheaper interest rate and save money in the long run. I hope you now know what is the interest rate of home loan in SBI Bank for female.