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State Bank of Mysore (SBM) has revised the interest rates on housing and car loans. The bank’s revised interest rates are linked to one-year marginal cost of funds-based lending rate (MCLR) rate at 9.5 per cent.
The revised interest rates are: Housing loan across all limits - new rate 9.65 per cent (existing rate 9.7 per cent).
Housing loan Maxgain – Rs 25 lakh and up to Rs one crore - new rate 9.65 per cent (existing rate 9.70 per cent). Above Rs one crore - new rate 9.75 per cent (existing rate 9.8 per cent).
Car loans up to inclusive of seven years - new rates 10 per cent (existing rate 10 per cent). Combo car loan – new rates 9.9 per cent (existing rate 9.9 per cent).
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