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Cut In Home Loan Rates Offers Savings To Borrower: SBI Chief

Cut In Home Loan Rates Offers Savings To Borrower: SBI Chief

Monday, January 9, 2017, 12:37 PM

Chairperson of SBI, Arundhati Bhattacharya, said the interest rate cut on home loans, offers significant savings to borrowers. A person can save INR 2,333 per month on a home loan of INR 50 Lakhs, with a 30 year tenure, at revised interest rates of 8.6%. Yearly savings can go to INR 27,996 and for 30 years, the total savings can be INR 8.39 lakhs.
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