State Bank of Hyderabad (SBH) has reduced its base rate by 10 basis points from 10.05 pc to 9.95 per cent with effect from July 16, 2015.
``Following the recent announcement of reduction in policy rates by RBI, the Asset Liability Management Committee of State Bank of Hyderabad chaired by Santanu Mukherjee, Managing Director decided to revise the base rate downwards,’’ SBH said in a release issued here on Wednesday.
With the reduction in base rate, the rate of interest on home loan shall also stand reduced and the EMI for a 30 year loan period would be Rs 874 per lakh.