SBI cuts home loan rate twice in a month2 min read 10 May 2019, 02:27 PM IST
SBI had earlier cut home loan rate on 10 April
SBI claims to have around 34% market share in home loans and auto loans
The country’s largest lender State Bank of India (SBI) today reduced its marginal cost of funds based lending rate, or MCLR, by 5 basis points across all tenors, bringing down the home loan interest rate for its borrowers. After today's rate cut, the one-year MCLR will come down to 8.45% per annum, from 8.50% per annum. As a result, interest rates on all loans linked to MCLR will get reduced by 5 basis points with effect from 10 May 2019.
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