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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

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

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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11 December 2019, Wednesday

When To Switch Home Loan?

Banks are cutting MCLR Home Loan rates making this the right time to buy a dream house. SBI has reduced one-year MCLR by 10 bps. The one-year MCLR has ...

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Bank of Baroda lowers MCLR lending rates by 20 bps

Tuesday, December 10, 2019, 3:15 PM

Bank of Baroda lowers MCLR lending rates by 20 bps

Following its peers like SBI, HDFC Bank and Bank of India, state-run Bank of Baroda also has lowered its marginal cost of funds-based lending rates (MCLR) by up to 20 bps across various tenors, effective December 12. The rate reduction comes even as the RBI in a surprise move had left the key policy rates unchanged at the last meeting on December 5.

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SBI reduces one-year MCLR by 10 bps

Monday, December 9, 2019, 12:56 PM

SBI reduces one-year MCLR by 10 bps

Just a few days after the Reserve Bank of India maintained the status quo on key rates, the country's largest lender, State Bank of India (SBI) announced a reduction in its one-year lending rate. SBI announced on Monday that it has cut one-year marginal cost-based lending rates (MCLR) by 10 bps. The one-year MCLR will come down to 7.90 percent from 8 percent.

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SBI cuts MCLR by 5 bps across all tenors

Friday, November 8, 2019, 11:03 AM

SBI cuts MCLR by 5 bps across all tenors

India's largest public sector lender, SBI, announced Friday morning that it has cut marginal-cost based lending rates (MCLR) by 5 basis points across all tenors. The new rates will be effective from November 10. After the cut, the one-year MCLR stands at 8 percent. According to SBI's press release, this is the bank's seventh consecutive MCLR cut during the current financial year.

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SBI cuts MCLR and fixed deposit rates across all tenors

Monday, September 9, 2019, 11:39 AM

SBI cuts MCLR and fixed deposit rates across all tenors

Good news for borrowers as the State Bank of India (SBI) announced early Monday morning that has reduced MCLR (marginal cost of lending rate) on loans across all tenors. In a press release, the public sector lender stated that it will reduce interest rates by 10 basis points (bps) across all tenors with effect from tomorrow, i.e., September 10. (1 basis point = 0.01%).

Article

 

04 September 2019, Wednesday

Why SBI Home Loan Becomes Cheaper?

SBI Home Loan has been cheaper from September 1st. SBI which is India’s largest lender has cut down home loan rates from 8.25% to 8.05% from 1st ...

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

Monday, August 19, 2019, 10:20 AM

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

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.

Article

 

13 August 2019, Tuesday

Repo Rates Cut 4 times a year, will your Home Loan rates fall?

Repo Rates Cut 4 Times a Year, Will Your Home Loan Rates Fall? The Government and the RBI want yo ...

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SBI reduces MCLR by 15 bps across all tenors

Wednesday, August 7, 2019, 2:46 PM

SBI reduces MCLR by 15 bps across all tenors

Less than two hours after the Reserve Bank of India (RBI) cuts key policy rates by 35 basis points (bps), the country's largest lender State Bank of India (SBI) has announced a cut in its MCLR (marginal cost based lending rates). According to the bank's press release, it has cut rates by 15 bps across all tenors with effect from August 10, 2019.

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