State Bank of India (SBI) to cut Repo Rate by 75 basis points

The State Bank of India (SBI) has decided to pass on the entire 75 basis points (bps) Repo Rate cut announced by the Reserve Bank of India (RBI) on 27th March.
The new Repo Rate, to be effective from 1st April 2020 and It will be applicable for its borrowers availing loans based on External Benchmark-linked lending rate, EBR and Repo-Linked Lending Rate, RLLR.
According to the bank, that EMIs on eligible home loan accounts, linked to EBR or RLLR will get cheaper by around Rs 52 per 1,00,00 Rs on a 30-year loan.

Published On : 28 Mar 2020