SBM lowers home loan rates

State Bank of Mysore (SBM) has revised interest rates on housing. With effect from August 1, the bank’s revised rates are linked to one year marginal cost of funds based lending rate (MCLR) at 9.5 per cent. For housing loan across all limits - new rate 9.60 per cent (existing rate 9.65 per cent). Housing loan Maxgain – ₹25 lakh and up to ₹1 crore - new rate 9.60 per cent (existing rate 9.65 per cent). Above ₹1 crore - new rate 9.70 per cent (existing rate 9.75 per cent).