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State Bank of India has reduced interest rates on home loans above Rs 75 lakh by 10 basis points. The new rates will take effect on June 15, 2017. The revised interest rates will be 8.55 per cent a year for salaried women borrowers. For others, the rate of interest will be 8.60 per cent.
In its latest monetary policy review, the RBI had reduced the risk weightage on home loans to 50 per cent from 75 per cent and it was widely expected that big ticket home loans may get cheaper.
Related: Decoding SBI’s home loan rate cuts
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