SBI to offer repo rate-linked home loans from July 1

Last Updated: Sat, Jun 08, 2019 13:05 hrs
FILE PHOTO: A man walks past a podium set up at the venue of a news conference to announce the launch of Initial Public Offering by SBI Life Insurance Co in Mumbai

Mumbai: The State Bank of India (SBI) on Friday said it would offer repo rate-linked home loans from July 1, 2019.

It also announced the reduce interest rate on cash credit account and over draft customers with limits of over Rs 1 lakh, from July. The current repo-linked lending Arate (RLLR) for cash credit and overdraft customers is 8 per cent.

"The benefit of reduction in repo rate by 25 bps (basis points) by RBI has been passed in its entirety to CC/OD customers (limits above Rs 1 lakh) banking with us, with effect from 1st July 2019," an SBI statement said.