TIL Desk/Business/Mumbai/ Country’s largest lender State Bank of India (SBI) has revised its home loan rate to 6.95 per cent effective April 1. With the revision, the lowest rate of 6.70 per cent regime for limited period ended in March 31.
During the limited period, the bank offered home loan starting from 6.70 per cent for loans up to Rs 75 lakh and 6.75 per cent for loans in the range of Rs 75 lakh-Rs 5 crore.
As per information posted on its website, the new rate effective April 1 is 6.95 per cent. Compared to teaser rate for the limited period, the new rate is 25 basis points higher at 6.95 per cent. The hike in minimum home loan rate by SBI is likely to prompt other lenders to follow suit.
