SBI cuts home loan rates by 5 bps

State bank of India has reduced its home loan rate by 5 bps to 9.40%. The revision in the rate follows reduction in the one-year marginal cost of funds-based lending rate to 9.15% from 9.20%. Similarly, auto loan rate will be 9.75% lower by 5 bps. Women borrowers will get an additional discount of 5 bps for both home and auto loans. The new rate came into effect from May 1.

SBI cuts home loan rates by 5 bps

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