SBI to lower lending rates from August 10

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Aug 08, 2019

8:10AM

SBI to lower lending rates from August 10

@TheOfficialSBI

Within hours of a steeper 35 basis points reduction in the repo rates by the Reserve Bank, the State Bank of India announced a 15 basis points reduction in its lending rates.

In a statement, the country’s largest lender said the new rates of 8.25 per cent will be effective from August 10.

After this cut, SBI home loans have become cheaper by 35 bps since April. The bank is offering repo linked home loans since 1st July this year.