Home Loan EMIs Set to Fall as SBI Cuts Base Rate

Equated monthly installments on home and auto loans are likely to come down after State Bank of India announced a 15-basis point reduction in base rate on Tuesday. New rates would be effective June 8. After Tuesday's cut, SBI's base rate or the minimum lending rate will come down to 9.70 per cent. Lenders that compete directly with SBI, such as ICICI Bank and HDFC Bank, are expected to follow suit, analysts say. SBI's rate cut anno...