State Bank of India (SBI) has cut interest rates on home loans. Those who take a home loan up to Rs 30 lakh will be more benefitted. SBI has cut 25 basic points in interest rates for this. It is now 8.35%. The new rates will be effective from 9th May.
How much deduction in home loan?
– There is a reduction of 25 Basic Point on home loan of less than 30 lakhs.
– Over 30 lakh home loans, SBI has reduced 10 Basic Points.
– Last month SBI reduced the base rate from 9.25% to 9.10%.
In January this year, the country’s largest bank had a slight reduction in the lending rate (MCLR).
Under Pradhan Mantri Awas Yojana and more benefits to women customers
According to SBI, under the Prime Minister’s housing scheme, customers can also take an interest-subsidy of Rs 2.67 lakhs. At the same time, SBI said that if a female customer takes home loan, then it will get an interest rate of 8.35 percent, while another customer will get the home loan at 8.40 percent.
