Comments
The country’s largest lender State Bank of India (SBI) on Monday announced a reduction in its external benchmark-based rate by 25 basis points to 7.80 per cent from 8.05 per cent.
The new rates will be applicable from January 1, 2020, the bank said in a statement. SBI “has announced the reduction in its external benchmark-based rate (EBR) by 25 basis points to 7.80 per cent p.a from 8.05 per cent per annum with effect from January 1, 2020,” it said.
With this reduction, the interest rate for existing home loan customers as well as micro, small and medium enterprises (MSME) borrowers who have availed of loans linked to the external benchmark based rate would come down by 25 basis points, it said.
New home buyers will get loans at an interest rate starting from 7.90 per cent per annum, compared to the earlier 8.15 per cent per annum, it said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.