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SBI offers repo-linked benefits on home loans for new customers

Monday, August 19, 2019, 10:20 AM

SBI said it is contemplating offering the benefit of the repo-linked lending rate to existing home loan borrowers even as the country's biggest mass lender expects traction in consumer demand, paced by likely federal stimulation, toward the latter half of FY20. The bank's lending rates for home loans linked to MCLR are 8.35% to 8.90% for loans up to Rs 75 lakh.
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RBI cuts interest rate but reduction in your home loan EMI will be slow

Monday, August 12, 2019, 9:15 PM

The country's central-bank has cut-interest-rates for the fourth-time in a row. The repo-rate cut has been cut by 35 basis-points and now stands at 5.4% the lowest since April 2010. With this, the RBI has reduced interest rates by 110-bps since the start of the year. The higher than normal-rate-cut is ostensibly a signal for banks to cut lending-rates aggressively before festive-season kicks in.
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Bank of Baroda launches loans linked to repo rate

Monday, August 12, 2019, 11:39 AM

Bank of Baroda announced a new home loan product linked to the RBI repo rate. In doing so, BoB has gone the SBI way. Following the latest Monetary Policy Committee decision to cut rates by 35-basis points, several state-run banks, including Union Bank of India, Allahabad Bank, BoI and Syndicate Bank, have expressed their intention to launch loan products linked to an external benchmark.

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