SBI cuts lending rate by 75 bps

With this downward revision SBI’s external benchmark linked lending rate (EBR) stands at 7.05 percent while its repo linked lending rate (RLLR) now stands revised to 6.65 percent. EMIs on eligible home loan accounts (linked to EBR/RLLR) will get cheaper by over Rs 52 per one lakh on a 30 year loan, the bank said in a press release.

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