SBI home loan interest rate cut by 25 bps! Big new year gift, EBL revised to 7.8 pct; full list out at sbi.co.in

SBI home loan rate cut! The State Bank of India (SBI), country’s largest lender has announced a cut in its External Benchmark Based Rate (EBR) by 25 bps to 7.80 per cent per annum from 8.05 per cent per annum with immediate effect from January 1, 2020. With this reduction, SBI interest rate for existing home loan customers as well as MSME borrowers who have availed loans linked to External Benchmark Based Rate would come down by 25 bps or 0.25 per cent. Now, from 1st January 2020, the new homebuyers will get loans at an interest rate starting from 7.90 per cent per annum which is currently at 8.15 per cent per annum. SBI Flexible Home Loans full list is now available on the official website sbi.co.in.

SBI Flexible Home Loans full list
Flexible SBI home loan interest rate for up to Rs 30 lakh is currently at 8.15 per cent which has now been reduced to 7.9 per cent. For SBI home loan from Rs 30 lakh to Rs 75 lakh, the interest rate will now be 8.20 per cent which is currently at 8.45 per cent. For SBI Home Loan above Rs 75 lakh, the interest rate effective from 1st January 2020 will be 8.30 per cent which is currently at 8.55 per cent.

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Recently, SBI, the largest Indian banker, has taken various initiatives that will help its customers to carry out hassle-free banking. From January 1st, it has also announced the introduction of OTP service, where one needs to keep one's registered mobile number with him or her while withdrawing money from the ATM from evening 8 to morning 8. The SBI has taken this step to save its customers from any kind of banking fraud.