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SBI reduces home loan interest rate by 5 basis points
Saturday, February 9, 2019, 9:14 AM
Within a day of RBI reducing repo rate by 25 basis points, the country's largest lender State Bank of India announced a cut in interest rates by 5 basis points on its home loans up to Rs 30 lakh. In it sixth bi-monthly monetary policy review announced Thursday, RBI had cut the repo rate by 25 basis points to 6.25 percent.
Good news for borrowers: RBI cuts repo rate by 25bps
Thursday, February 7, 2019, 12:33 PM
Good news for borrowers as the Reserve Bank of India (RBI), in its bi-monthly monetary policy held on February 7 has cut the key policy rates by 25 basis points (bps). (One basis point is equal to one hundredth part of percentage). Post the announcement, the repo rate stands at 6.25 percent and reserve repo rate at 6.00 percent.
Interest subsidy for MIG homebuyers extended till March 2020
Monday, December 31, 2018, 6:34 PM
The Centre has extended the Credit Link Subsidy Scheme(CLSS) on home loans for the Middle Income Group under the Pradhan Mantri Awas Yojana(Urban) till March 2020, Union Housing and Urban Affairs Minister Hardeep Singh Puri said. Puri said he has signed the file pertaining to the extension of the CLSS under which the government provides a subsidy of up to Rs.2.67L on home loans.
