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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.
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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.
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RBI may raise rates at Friday's review

Monday, October 1, 2018, 1:22 PM

The repo rate is likely to be hiked by the Reserve Bank by 25 basis points in the upcoming monetary policy review as inflation is expected to accelerate further due to higher crude prices and the weakness in rupee. The monetary policy committee is all set to start its three-day meeting from October 3 to decide on the fourth bi-monthly monetary policy.

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