SBI home loan rates to start from 6.95 pc

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SBI

SBI has said on its website that its home loan rates will start from 6.95 per cent, effective April 1.

Last month, the public sector bank had announced a special offer valid till March 31, wherein home loans were available starting from 6.7 pc. This indicates that the best rate for home loans has increased by 25 basis points. .

According to SBI’s website, home loans are available at 40 bps above the external benchmark-linked rate (EBLR). The EBLR, which is linked to the RBI’s repo rate, is currently 6.65 pc, which would mean that home loans are available at 7 pc. However, loan proposals that have a woman as one of the applicants are entitled to a 5 bps discount, which makes it 6.95 per cent.