SBI To Link Floating Rate Loans With Repo Rate: 10 Things To Know

Under the new rule, SBI will charge a premium of 15 basis points for home loans up to Rs 30 lakh for salaried class borrowers. That means the effective home loan rate will be 8.20 per cent, according to bank's website- sbi.co.in. For home loans between Rs 30 lakh and Rs 75 lakh for salaried class, 40 basis points of premium will be changed. That means the effective rate will be 8.45 per cent. SBI said a premium of 15 basis points...