Last Year, RBI had asked banks to do away pre-payment penalty on home loans. After this rule customers encouraged to shift their banks and avails the lowest interest rates.
Now, 25 percent and above of SBI new home loan borrowers from other banks.
SBI offers Market’s Lowest Interest Rates on Housing loan Schemes:-
- 10 per cent for a loan of Rs 30 lakh
- 10.15 percent for a loan above of Rs 30 lakh
- Calculate your Loan EMI with EMI Calculator
While SBI has decided not to reduce its base rate for now.
“We have reviewed the base rate. We have decided not to reduce it any further, as our base rate is the lowest,” Chaudhuri said.
He added the bank’s asset liability committee would meet in the first week of December to decide on the matter.