Get SBI home loan interest rate at 8.4% during this period: Check CIBIL score needed to be eligible

As part of its festive season campaign, the State Bank of India (SBI) is offering a 15 to 30 basis point discount on home loans from October 4, 2022, to January 31, 2023. As of now, interest rates for SBI home loans range between 8.55% and 9.05%. However, interest rates vary depending on the CIBIL score.

SBI regular home loan
Below rates are applicable for regular home loans including Flexipay, NRI, Non-salaried, Privilege, Shaurya, Apon Ghar, according to the SBI website. SBI reduced their floor rate for this festive season by 15 basis points, to 8.40%, as compared to the EBR of 8.55%.
Cibil Score > = 800
Borrowers with a CIBIL score of 800 or higher will now attract an interest rate of 8.40% during the festive campaign. This is a 15 basis point decrease from the normal rate of 8.55%.

Cibil score 750 – 799
Borrowers with credit scores between 750 and 799 receive a 25 basis point discount, lowering their rate from 8.65% to 8.40%.

Cibil score 700 -749
On CIBIL scores of 700–749, a 20 basis point discount is provided, lowering the interest rate from 8.75% to 8.55%.


According to the SBI website, “Floor Rate: 15 bps lower than EBR (i.e. 8.40 %), EBR at present- 8.55%. The concessional rates are inclusive of 5bps concession available to women borrowers and 5 bps concession available for salary account holders for Privilege, Shaurya & Apon Ghar. Premium of 10 bps for loans up to 30 lacs for LTV >80% & < =90% shall continue to be charged hitherto.”

Credit Score below 650
The interest rates on house loans for applicants with credit scores between 1 and 699 are unaltered. For borrowers with credit scores between 650 and 600, the interest rate is 8.85%; for those with scores between 550 and 649, it is 9.05%; and for those with NTC/NO CIBIL/-1 ratings, it is 8.75%.

SBI top up loan rates


SBI Loan Against Property P-LAP


Processing fee waiver:
For regular home loans and top up loans, there will not be any fee waiver on processing. While for loan against property, discount will be flat Rs. 10,000/- plus applicable GST.