SBI cuts interest rate on home loans above Rs 75 lakh by 10 bps

The State Bank of India, country’s largest lender cut the interest rate on home loans above Rs 75 lakh by 10 basis points (bps) to 8.60 percent. For salaried women borrowers, the loans will be offered at 8.55 percent.

According to SBI, the new rates will be effective from June 15. The home loan rates offered are lowest in the industry. The statement added that taking a cue from the recent RBI reduction in risk weightage on home loans, SBI is passing on the benefit to its customers by reducing its interest rates on home loan above Rs 75 lakh. SBI has the largest share on the home loan market.
Important Takeaways for IBPS PO Exam-
  • SBI was established in 1955
  • Smt. Arundhati Bhattacharya is the Chairperson of SBI
  • SBI is headquartered in Mumbai, Maharashtra.
Source- News on AIR


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