Search
SBI Cuts Home Loan Interest Rate, Again
May 13, 2019
State Bank of India (SBI) is the largest lender in the country. It announced that it has reduced the marginal cost of funds based lending rate (MCLR) by 5 basis points regardless of the loan tenure. As a result, home loans will get cheaper. After the rate cut that was announced 10 May 2019, the one-year MCLR has come down from 8.5% p.a. to 8.45% p.a. from immediate effect.
It is the second time that SBI has cut its interest rate. On 10 April, the bank cut its one-year MCLR by 5 basis points. It had also reduced the interest rate for home loans of up to ₹ 30 lakh by 10 basis points.
Important Links:
- Professional Diploma in Banking and Financial Services: https://ask.careers/courses/professional-diploma-in-banking-management/
- Post Graduate Diploma in Banking & Finance: https://ask.careers/courses/post-graduate-diploma-in-banking-finance/
- Mumbai: https://ask.careers/cities/mumbai/
- Ahmedabad: https://ask.careers/cities/ahmedabad/
- TSCFM: https://ask.careers/institutes/tscfm/
