The spread is usually decided based on credit risk and tenor. Usually most banks offer a spread of 5-90 bps above MCLR on home loans. Considering that the SBI rate cut is on. increased rates before.

State Bank of India (SBI), the country’s largest lender, has launched repo rate-linked home loan product effective July 1. So far, all new floating rate home loans were linked to marginal cost of fund.

Currently, SBI offers home loans up to Rs 75 lakh to customers at 8.55%. The new loan product now being offered will have a base spread of 2.25% above the 5.75% repo rate, meaning 8%. The bank will also charge a 40 basis point spread over the rate, Gupta said. One basis point is 0.01 percentage point.

After linking its short-term loans and large savings deposits rates to the repo rate, the largest lender state bank Friday said it will introduce repo-linked home loans from July 2019 India’s largest lender, State Bank of India (SBI), on June 7, 2019, in a statement, said that it will introduce repo rate-linked home loans from July 1, 2019.

SBI or State Bank of India has introduced repo rate-linked. The ann. SBI home loan interest: The interest rate for State Bank of India (SBI)’s home loan products ranges from 8.6 per cent to 9 per.

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Under Repo-rate linked home loan product from SBI, the benchmark is the Repo-Linked Lending Rate (RLLR), which in turn is linked to the repo rate set by the Reserve Bank of India. Repo rate is the interest rate at which the Reserve bank lends to other banks.

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The interest rates on deposits above one lakh rupees will stand at 3.25 per cent, which will be 2.75 per cent below the repo. home loans below Rs 30 lakh now stands in the range of 8.60-8.90%. SBI.

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In addition to the home loans linked to the bank’s base rate and MCLR, the borrowers will now have an option to choose home loans based on the repo linked lending rate (RLLR) of SBI. "All home loan borrowers who want a direct and transparent linkage of their floating rate on home loan to RBI rates may consider this product.