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State Bank of India mulls repo-linked home loans for existing borrowers

State Bank of India mulls repo-linked home loans for existing borrowers

SBI has lowered MCLR by 30 basis points since February while RBI reduced policy rate by 110 bps.

Interest rate for SBI saving a/cs with Rs 1 lakh plus balance to be linked to repo rate from May 1

Interest rate for SBI saving a/cs with Rs 1 lakh plus balance to be linked to repo rate from May 1

Rates on big savings accounts and some short-term loans will change with change in repo rate.

Home, vehicle, other retail loans to become cheaper: FM Nirmala Sitharaman

Home, vehicle, other retail loans to become cheaper: FM Nirmala Sitharaman

Addressing the media, Sitharaman also said that banks will pass on RBI rate cut benefits to borrowers through MCLR reduction.

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