New Delhi, June 14(HS): After the RBI revised the repo rate, several banks, including the State Bank of India (SBI), have lowered their lending rates. SBI has reduced its key loan rates by up to 0.50 percent, effective June 15, 2025. Consequently, SBI's home loan interest rates will now begin at an annual rate of 7.50 percent, impacting all loan types. The interest rates on SBI home loans will range from 7.50 percent to 8.45 percent, depending on the borrower's CIBIL score, while the Maxgain OD home loan rates will vary between 7.75 percent and 8.70 percent. Top-up home loan rates will fall between 8 percent and 10.50 percent.

Other banks, including Union Bank, Punjab National Bank, and Bank of Baroda, have also reduced their rates by up to 0.50 percent. The repo rate cut by the RBI to 5.50 percent allows banks to borrow at lower costs, facilitating cheaper loans for customers. This reduction affects different loan-linked benchmarks like EBR, EBLR, and RLLR, leading to lower interest rates for home loans and other borrowing options.

Hindusthan Samachar / Jun Sarkar