Country’s largest lender State Bank of India today reduced the interest rate on home loans above Rs 75 lakh by 15 basis points.
It has done away with the slab regime. It will offer uniform interest rate on home loans irrespective of the loan amount.
Earlier it had two slabs – upto Rs 75 lakh – 10.15% and Rs 75 lakh and above – 10.30%. Under revised regime, it will charge a uniform rate of 10.15% irrespective of loan amount.
It has retained an offer of five basis point discount to women borrowers. The woman has to be the sole applicant or the first of the co-applicants and also the sole or the first of the co-owners of the property.
