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State Bank of Hyderabad (SBH) has reduced its base rate by 20 basis points from 9.95 per cent to 9.75 per cent with effect from October 8, 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, its Managing Director, took the decision revise the base rate downwards, SBH said in a release issued here on Tuesday.
With the reduction in base rate, the rate of interest on home loan shall also stand reduced and the equated monthly instalment for a 30 year loan period would be Rs 860 per lakh.
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