SBI cuts interest rates on home loans above Rs75 lakh
State Bank of India reduces home loan rate by 10 basis points to 8.55% from 8.65% earlier on loans above Rs75 lakh, after RBI reduced risk weightage for banks
Mumbai: State Bank of India (SBI) on Friday became the first to slash the interest rate on home loans above Rs75 lakh post the central bank’s direction to reduce risk weights. The bank reduced the home loan rate by 10 basis points to 8.55% from 8.65% earlier. The new rates are effective from 15 June.