Country SBI (State Bank of India), the largest government bank of the largest government bank, has reduced loan interest rates by 0.50 percent. This decision of SBI has made the loan cheaper for both existing and new borrowers. SBI has also made the loan cheaper after the Reserve Bank of India (RBI) cut the repo rate by 0.5 percent. SBI’s repo -based interest rate (RLLR) has now reduced to 7.75 percent with a reduction of 0.5 percent. The external standard based interest rate (EBLR) was also cut by 0.5 percent and has now increased from 8.65 to 8.15 percent.
Now at what rate will the home loan be available
According to the information given on the SBI website, the new interest rates came into force from 15 June 2025. This move of the bank will make loans related to repo based interest cheap. This will benefit the new and existing retail customers taking housing, motor, personal loans, in addition to micro, small and medium enterprises (MSME) borrowers. According to information received from the State Bank of India website, after this latest cut, now this government bank will provide home loans at 7.50 to 10.55 percent rates. Along with this, you should also know that all home loans of SBI are links with EBLR.
Now at what rate will the home loan be available
RBI cut repo rate on June 6
On June 6, the RBI had reduced the repo rate from 0.5 percent to 5.5 percent. RBI has cut interest rates for the third consecutive time in a period of 5 months. Earlier, SBI had cut 0.25 percent in February and 0.25 percent in April. The repo rate was 6.50 percent before the repo rate was reduced in February. Along with reducing the repo rate, the RBI also announced to reduce the cash reserve ratio (CRR) for banks by one percent to three percent.
Latest business news
