Home Business SBI cuts lending rates by 0.15%

SBI cuts lending rates by 0.15%

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Ahead of the Reserve Bank of India’s monetary policy this week, the country’s largest bank, State Bank of India has reduced its benchmark lending rate by 0 point 15 per cent. Base rate or the minimum lending rate of the bank has been reduced from 9.25 per cent to 9.1 per cent . The cut in SBI’s base rate,is effective from 1st April. With this reduction, the equated monthly installments, or EMIs for the bank’s new as well as existing borrowers who have taken housing or car loans at the base rate will come down by at least 0.15 per cent.

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