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Hans India
2 hours ago
- Hans India
SBI raises home loan rates by 25 basis points for new borrowers
Despite the RBI's repo rate cut to 5.5 per cent, aimed at easing borrowing costs, India's largest mortgage lender, State Bank of India (SBI), has increased home loan rates by 25 basis points for new borrowers. The bank raised the upper band of interest rates by 25 basis points. SBI's interest rates for home loans have increased from the earlier band of 7.50 per cent-8.45 per cent to a new band of 7.50 per cent-8.70 per cent. The new rates will particularly impact customers with low credit scores, as the maximum interest rate limit has been raised. Public sector banks like Union Bank of India, Bank of India, Bank of Maharashtra, and Central Bank of India offer loans starting at 7.35 per cent and going up to 10.10 per cent or more, depending on the borrower's credit profile. Other public sector banks may follow SBI's lead. The repo rate was cut three times consecutively to provide relief to the public. The reduction in the repo rate by the RBI leads to lower interest rates on loans, including home loans, benefiting the public indirectly. Other public sector banks may follow SBI's lead. The repo rate was cut three times consecutively to provide relief to the public. The reduction in the repo rate by the RBI leads to lower interest rates on loans, including home loans, benefiting the public indirectly. The bank had earlier released a report saying that the RBI's cutting the repo rate will make home loans cheaper. The change will be felt most immediately in loans linked to the External Benchmark Lending Rate (EBLR), which account for around 60 per cent of all loans given by Scheduled Commercial Banks (ASCBs), as per the data compiled by State Bank of India (SBI) Research. As of August 2025, SBI home loans predominantly link to the External Benchmark Lending Rate (EBLR) for new borrowers, aligning with the RBI's repo rate plus a spread. Looking ahead, SBI warned that although lower rates benefit borrowers, banks might continue to face pressure on their profit margins.
News18
2 hours ago
- News18
SBI Hikes Home Loan Rates By 25 Bps: EMIs To Get Costlier For New Borrowers, Check New Rates
Last Updated: SBI Home Loan Rate Hike: SBI has revised home loan interest rates effective August 1, 2025. This impacts borrowers with higher EMIs. SBI Home Loan Interest Rate Hike: The State Bank of India (SBI) has revised its home and home-related loan interest rates effective from August 1, 2025. As per the report of Economic Times, regular home loans (term loans) will now be available in the range of 7.50% to 8.70%. The bank has raised the upper band of interest rates by 25 basis points. Earlier, SBI's home loan interest rates ranged between 7.50% and 8.45%, but now they stand between 7.50% and 8.70%. This means the lower limit remains unchanged, while the upper limit has been increased. New rates are effective from 1st August 2025. SBI's home loan rate hike came on the heels of RBI's decision to keep the repo rate unchanged at 5.55 per cent in the latest MPC meeting in August. The Max gain overdraft facility will attract interest rates ranging from 7.75% to 8.95%. Top-up loans have become relatively costlier, with rates between 8.00% and 10.75%, and overdraft top-up loans fixed at 8.25% to 9.45%. Loan against property (P-LAP) now comes at 9.20% to 10.75%, whereas reverse mortgage loans are fixed at 10.55%. SBI has also kept the YONO Insta Home Top-Up Loan at 8.35%. The bank has clarified that all home loan rates remain linked to the External Benchmark Lending Rate (EBLR), which currently stands at 8.15%. How SBI's Hike May Impact Borrowers SBI's decision to raise the upper limit of home loan interest rates from 8.45% to 8.70% will directly impact borrowers opting for loans at the higher end of the band. While the lower limit remains unchanged at 7.50%, those whose credit profile or loan category places them near the upper slab will now face slightly higher EMIs and overall repayment burden. Even though the hike is just 25 basis points, the effect over long tenures can be significant. For example, on a Rs 30 lakh loan with a 20-year tenure, the EMI at 8.45% was about Rs 25,830. At the new rate of 8.70%, the EMI rises to Rs 26,278 — a difference of around Rs 450 every month. Over the loan's lifetime, this translates into an additional outgo of more than Rs 1 lakh. Borrowers with larger loans, say Rs 50 lakh or above, will see the impact magnified further. This makes homeownership costlier, especially for new buyers stretching their budgets. A borrower takes a home loan of Rs 30 lakh for 20 years. About the Author Business Desk A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover More view comments First Published: News business » banking-finance SBI Hikes Home Loan Rates By 25 Bps: EMIs To Get Costlier For New Borrowers, Check New Rates Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
4 hours ago
- News18
‘Resist The Temptation': NRI Explains Risks Of Investing In Indian Real Estate
A Reddit post has warned NRIs that buying property in India is more of a headache than a homecoming dream. A viral Reddit post has sparked a heated debate among Non-Resident Indians (NRIs), prompting questions about whether buying property back home is truly worthwhile. The user, an NRI sharing personal experience, warned fellow expatriates to 'resist the temptation" of investing in real estate in India, whether for retirement, investment, or as a safety plan. According to the post, owning property from abroad is nothing short of a 'nightmare." The user explained that the challenges begin the moment builders discover the buyer is an NRI, often charging a 'premium" for under-construction projects. Many NRIs also dream of a retirement home in India, but the post argued that people usually end up living overseas much longer than they expect. By the time they return, the property may already feel outdated. Investment Risks The post was blunt about real estate as an investment. 'For every success story, there will be 10 not-so-successful or even horror stories that you don't hear about," it read. Residential flats were described as poor investments, and even buying land was said to be risky unless trusted family members were present to prevent encroachments. The biggest disadvantage, according to the user, is that NRIs are not physically present to manage their assets. In addition, many property deals still involve black money unless the purchase is made from a top-tier builder, which the user described as 'also a major pain" for expatriates. Check the post here: When It Makes Sense The only scenario where buying might be worthwhile, the post suggested, is for 'immediate own use." For example, upgrading a family home for parents or siblings could make sense, provided their inputs are taken. The user also highlighted succession issues, warning that children born and raised abroad are unlikely to have any interest in maintaining property in India. For retirees, the advice was simple: buy a smaller 2BHK later in life rather than spending now on a 'grand villa/apt to show off that you're a successful NRI." Stories from NRIs The discussion thread drew a flood of personal experiences. A commenter said selling property as an NRI was a 'nightmare," pointing to TDS rules, mortgage-related cash requirements, and the hassle of sending money abroad through banks like SBI. Another shared how their decade-old apartment became a constant headache, from struggling to find tenants to paying repeated estate agent fees, dealing with new police verification rules, and competing against newer projects. In the end, they sold at a loss. Others shared horror stories of squatters, corruption, unreliable contractors, and endless bureaucratic delays. A user summed it up in plain words: 'Don't buy. It's an outdated investment that will take up way too much of your time for what you get out of it." The Bigger Picture Despite these concerns, India's luxury real estate market continues to grow. Strong demand from wealthy individuals, NRIs, and domestic buyers has fuelled investment in premium projects across major cities, as per Business Today. For many, high-end properties are seen as a safe way to preserve wealth, much like in global investment hubs. Reports suggest that NRIs account for 15 to 25 per cent of investments in top projects in places like Gurugram, Delhi, Mumbai, and Bengaluru. These cities are attractive because of their modern infrastructure, booming economies, and upscale housing options. top videos View all NRIs from the US, UK, UAE, Canada, and Singapore have shown significant interest, driven by their financial capacity and desire to own a slice of India's growing property market, the publication adds. But not all projects live up to expectations. For several NRIs who invested in the Ozone Urbana township in Devanahalli near Bengaluru, the dream turned into a drawn-out legal and emotional ordeal. Their experience highlights the risks hidden beneath the promise of India's booming real estate sector. About the Author Click here to add News18 as your preferred news source on Google, News18's viral page features trending stories, videos, and memes, covering quirky incidents, social media buzz from india and around the world, Also Download the News18 App to stay updated! tags : nri reddit viral news view comments Location : Delhi, India, India First Published: August 16, 2025, 11:38 IST News viral 'Resist The Temptation': NRI Explains Risks Of Investing In Indian Real Estate Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
