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Home loans set to get cheaper as SBI lowers lending rate by 25 bps

Tuesday, December 31, 2019, 12:36 PM

SBI, the country's largest lender, on Monday cut its lending rates linked to the central bank's repo rate by 25 basis points (bps) to 7.8%, lowering borrowing costs for small businesses and homebuyers. The new rate, SBI said, will be applicable from 1 January. "New homebuyers will get loans at an interest rate starting from 7.90%. (previously at 8.15%)," SBI said in a statement.
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RBI Monetary Policy: Shaktikanta Das keeps interest rates unchanged

Thursday, December 5, 2019, 12:51 PM

The Reserve Bank of India (RBI) released its fifth bi-monthly monetary policy statement for 2019-20 in which the Monetary Policy Committee(MPC), led by Governor Shaktikanta Das, decided to keep the policy repo rate unchanged at 5.15%. In 2019, the RBI has cut repo rate by 135 basis points so far to a nine-year low of 5.15%. Analysts were expecting another 25 basis points cut.
 
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RBI cuts repo rate by 25 basis points

Friday, October 4, 2019, 12:00 PM

The Reserve Bank of India (RBI) today cut its benchmark interest rates (repo rate) for the fifth time this year to boost economic growth. The RBI today cut repo rate by 25 basis points to 5.15%, which takes its cumulative cuts so far this year to 135 bps. The RBI also cut its GDP growth estimates to 6.1%, from earlier estimate of 6.9%.

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