SBI slashes home loan rates by up to 0.4%
Women borrowers would get an additional 0.05 per cent concession on card rates.
SBI home loans will now be available under two slabs — under Rs 75 lakh and above Rs 75 lakh.
The new rates would be effective from , State Bank of India (SBI) said in a statement.
With regard to loans of above Rs 75 lakh, the new rate would be 10.30 per cent. For women borrowers it is 10.25 per cent.
The revised EMI per lakh for a loan tenure of 30 years will be Rs 885 (for women) and Rs 889 (for others).
The prevailing EMI for Rs 1 lakh is Rs 900 for 30 years, it said.
The Reserve Bank of India (RBI), in its monetary policy review kept short-term lending rate unchanged at 7.75 per cent, while the cash reserve ratio (CRR) remained at 4 per cent.
In October, SBI had reduced interest rates on loans for car and consumer durables and also decided to lower processing charges to cash in on the festival season demand.