SBI’sintroduced in June, 2019, benefits the customers directly, as any change in the key interest rate by the central bank would be passed on directly to them.
To be eligible to take a repo rate-linked home loan, you need to have a minimum annual income of 6 lakh.The total loan tenor cannot exceed 35 years. The bank will charge a premium of 20 bps. New Delhi: India’s largest lender, State Bank of India (SBI), is likely to offer new home loan borrowers the option of repo rate-linked loans from July 1.
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· State Bank of India’s repo rate linked home loans, which offer the lowest rate in the market at 8.40% for loans up to Rs 75 lakh, are attracting a lot of interest from customers. The interest rate on these loans, which is lower than the 8.50% SBI offers on regular home loans, has helped the bank get over 1,000 applications since the launch of.
State Bank of India Lowers home loan rates shortly after RBI’s Policy Announcement 08 August, 2019 9:59 AM IST By. SBI since 1 st July 2019, had started offering a repo rate-linked home loan product. The interest rate on this new home loan product gets modified automatically whenever there is a change in the repo.
SBI’s repo rate-linked home loan decoded. 2 weeks ago Economy Hindustantimes 11. When there is a cut in the repo rate, the banks get money at a cheaper rate. This should mean that banks will pass on the benefit of cheaper money to the home loan consumers.
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SBI’s repo rate-linked home loan decoded. june 10, 2019 – 7:43 PM Hindustan Times. When there is a cut in the repo rate, the banks get money at a cheaper rate. This should mean that banks will pass on the benefit of cheaper money to the home loan consumers.
From today onwards, interest rate under SBI’s repo-linked home loan products has gone down to 8.05 per cent. Earlier, it was 8.4 per cent. Well, the good news is that this rate will be applicable.
The interest rates that fall under SBI’s repo-linked home loan product will come down to 8.05% from Sunday (September 1), from 8.4% earlier. This was after the rbi slashed repo rate by 35 basis points last month. This new rate will apply to all existing and new repo-rate linked loan customers of the SBI.