SBI interest rates on loans slashed by whopping 75 bps, passes on entire RBI repo rate cut to borrowers
State Bank of India (SBI) today reduced interest rates on loans by a whopping 75 bps, passing on the entire RBI repo rate cut, announced in the morning, to its borrowers availing loans linked to External Benchmark linked lending rate (EBR) as well as Repo Linked Lending rate (RLLR)
EMIs on eligible Home Loan accounts (linked to EBR/RLLR) get cheaper by around Rs 52 per 1 lakh on a 30 year loan, SBI says in media release. Source: Reuters