SBI brings home loan rate to lowest in industry at 8.30%

November 02, 2017 15:42

Largest public lender State Bank of India today lowered the home loan rate by 0.05 per cent to 8.30 per cent, the lowest in the industry. It has also reduced the auto loan by a similar percentage point to 8.70 per cent. The reduction in the retail loan rate by SBI is expected to prompt other lenders to go for a similar move. "With this reduction, SBI's offering in home loan is the lowest in the market. The new rates will be effective November 1," SBI said in a statement.

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