Decoding SBI’s home loan rate cuts
| Galyna Motizova/shutterstock.com
The leading bank’s action impacts varied sets of borrowers differently
Home loans are set to become cheaper for a set of borrowers, thanks to SBI’s recent cut in rates across various categories. The bank has categorised loans up to ₹30 lakh — mainly for the affordable segment — into a new category. Borrowers under this category will be charged 25 basis points less than earlier on their home loans — 8.35 per cent for women borrowers and 8.4 per cent for others. For lo...
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