SBI home loan rate cut by 25 basis points

Mumbai: Home loan borrowers can now breathe a sigh of relief as India’s leading banks have started slashing interest rates on home loans. Close on the heels of HDFC Ltd, India’s largest mortgage lender, cutting its home loan rates, India’s largest lender State Bank of India (SBI) on Sunday announced a cut in home loan interest rate by up to 0.25 per cent for new borrowers. 

For women home loan borrowers, the interest rate has been lowered by 25 basis points to 9.85 per cent whereas for other home loan borrowers, the interest rate has been cut to 9.90 per cent.