Good news lined up for the home loan buyers – The State bank of India has decided to cut down he home loan rates. The bank has reduced the rates by 0.15%. For the women the rate has been revised to 10.10% irrespective of the amount.
SBI reported that bank will be charging 10.15% interest rate on the home loans irrespective of the amount. Earlier for the loan up to Rs 75 lakh the interest rate was 10.15% and for amount more than Rs 75 lakh it was Rs 10.30%.
This uniformity in the rates of loan will be applicable from 26th august, 2014. The base rate of SBI bank is 10%.