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SBI To Offer Home Loan Products Based On Repo Rate

Citibank had linked the loan interest rate to 3-month Treasury bill rate. Now, when SBI comes up with a new home loan product, people notice. It is no different this time. SBI Repo Rate Linked Home Loan. From July 1, 2019, SBI shall provide an option to home loan borrowers to apply for loans with Repo rate linked lending rate (RLLR) as its.

The State Bank of India (SBI) announced to link its home loan products to repo rate. From July 1, customers will have the option to avail repo rate-linked home loans. The bank will continue to offer MCLR-linked home loans along with the repo rate-linked home loan products. The new product will be slightly different from the regular SBI home loans.

In first week of June RBI had lowered the repo rate to 5.75 per cent. The existing framework of lending home loan products following the marginal cost of funds based lending rate (MCLR) will continue along with the new framework, the SBI said.

Starting July 1, consumers would have the option to take SBI home loans pegged to the central bank repo rate, the lender said in a statement a day after the cost of funds was set at the lowest since 2010. Friday’s move follows the Mumbai-based bank’s March decision to link its savings bank rate and short-term lending rates to the repo.

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Home Finance SBI To Offer Home Loan Products Based On Repo Rate Ashfaque Ismail – 10 June 2019. Country’s largest public sector lender, State Bank of India, has said that from July 1, 2019.

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A fall in repo rate. branches, SBI is the largest mortgage lender in India. They are popular among borrowers because of their lower interest rates, low processing fees, easy and fast approval. The.