Related News

Oracle CEO Clay Magouyrk, center, speaks on a media tour of the Stargate data center in Abilene, Texas, on Sept. 23, 2025. Stargate is a collaboration of OpenAI, Oracle and

Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images U.S. cybersecurity company F5 fell 12% on Thursday after disclosing a system breach in which a “highly sophisticated nation-state threat

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. 1. The U.S. stock market

Aerospace manufacturer BETA Technologies’ electric aircraft, ALIA, is seen at John F. Kennedy Airport in New York City, U.S., June 3, 2025. It is the first Advanced Air Mobility flight

Representative image (Picture credit: AP) NEW YORK: Two bright green comets are streaming through the skies and are visible to skygazers in the Northern Hemisphere. Both hail from the outer

Chinese e-commerce giant Alibaba has pledged to spend more than $50 billion on artificial intelligence over the next three years. CNBC | Evelyn Cheng SHANGHAI — Chinese tech giant Alibaba

Trending News

In today’s digital age, the opportunity to make money online without any initial investment is more accessible than ever before. Whether you’re a student looking to earn some pocket money,

In today’s digital world, make money online has become a dream many want to turn into reality. Whether you’re looking for a side hustle or aiming to build a full-time

JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this

Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public

SBI lowers interest rates on several new retail, biz loans

Word Count: 575 | Estimated Reading Time: 3 minutes


SBI lowers interest rates on several new retail, biz loans

MUMBAI: State Bank of India (SBI) has reduced interest rates on several new retail and business loans linked to external benchmarks, following the RBI’s recent repo rate cut.
Home loans tied to the External Benchmark Rate (EBR), now at 8.9% (RBI repo rate of 6.25% plus a 2.65% spread), are available at 8.25% to 9.2% depending on the borrowers credit score. The home loan maxgain (overdraft) option ranges from 8.45% to 9.4%. Top-up loans are priced between 8.55% and 11.05%, while top-up (overdraft) loans range from 8.75% to 9.7%. Loans against property carry rates from 9.75% to 11.05%, and reverse mortgage loans for senior citizens are fixed at 11.3%. The YONO insta home top-up loan is offered at 9.1%. Rates vary based on the borrower’s Cibil score.
According to bankers, business loans are linked to the marginal cost of funds and will decline only when deposit rates fall. Last week, HDFC Bank hiked its MCLR despite the RBI rate cut.
SBI’s auto loans are also linked to the one-year marginal cost of funds-based lending rate (MCLR), currently at 9%, and are likely to decrease only when deposit costs decline. Standard car loans, including the SBI car loan, NRI car loan, and assured car loan scheme, range from 9.2% to 10.15%.
Under the loyalty car loan scheme, rates are slightly lower at 9.15% to 10.1%, depending on the borrower’s credit profile.
The SBI green car loan is available at 9.1% to 10.15% for electric vehicles. Two-wheeler loans are priced between 13.35% and 14.85%, with a 0.5% concession for electric vehicles. These changes reflect SBI’s strategy to offer competitive rates while promoting sustainable vehicle choices.





Source link

Most Popular Articles