Good news for home loan borrowers, the country’s largest lender, State Bank of India, cut its marginal cost based lending rates (MCLR) by 5 basis points (bps) across tenors effective on April 10. SBI also cut interest rate by 10 basis points (bps) on loans upto Rs. 30 lakhs. The interest rates would now range between 8.60 percent to 8.90 percent annually on housing loan upto Rs. 30 lakhs, from existing rates of 8.70 percent per annum to 9.00 percent per annum.

Good news for home loan borrowers, the country’s largest lender, State Bank of India, cut its marginal cost based lending rates (MCLR) by 5 basis points (bps) across tenors effective on April 10. SBI also cut interest rate by 10 basis points (bps) on loans upto Rs. 30 lakhs. The interest rates would now range between 8.60 percent to 8.90 percent annually on housing loan upto Rs. 30 lakhs, from existing rates of 8.70 percent per annum to 9.00 percent per annum.