SBI passes on 75 bps repo rate cut benefit to borrowers, loans to get cheaper
Updated : March 27, 2020 08:48 PM IST
EMIs on eligible SBI home loan accounts (linked to EBR/RLLR) will get cheaper by nearly Rs 52 per 1 lakh on a 30 year loan from April 1.
SBI's EBR and RLLR will come down by 75 bps as EBR reduced to 7.05 percent from 7.80 per annum and RLLR reduced to 6.65 percent from 7.40 percent per annum.
The bank reduced retail term deposit interest rates by 20 to 50 bps across tenors, while bulk term deposit interest rates reduced by 50 to 100 bps.