With the recent policy rate cuts from Reserve Bank of India (RBI), State bank of India (SBI) has cut its home loan rates by 0.05%. This has made SBI home loan cheapest in the market.
The new Home Loan rates from SBI are 9.95% for Loans below 30 lakh and 10.10% for loans of more than Rs. 30 lakh.
Below is the table showing the new EMI per lakh of loan.
|Loan Tenure (Years)||Loan upto 30 lakh||Loan above 30 lakh|
|EMI per Lakh|
In case you are paying more for your Home Loan, it makes sense to switch to SBI.
Also Read: How much you can gain by shifting to lower interest rates loans?
Here is the advertisement from SBI: