Latest news with #BusinessStrategyPremium
Economic Times
3 days ago
- Business
- Economic Times
state bank of india
ET Online SBI home loan rates State Bank of India has reduced the marginal cost of funds-based lending rate (MCLR) on select tenures even as the Reserve Bank of India (RBI) kept the repo rate unchanged in its August MPC meeting. The country's top PSU bank has cut the rates by up to 5 basis points (bps). The revised rates will be applicable from today, i.e., August 15, 2025. After the revision, the bank's MCLR rates are between 7.90% and 8.85% as compared to the previous range of 7.95% and 8.90%. SBI hikes IMPS charges from August 15, 2025: See what PNB, Canara Bank are charging After the MCLR rate cut, loans linked to it are set to be cheaper. Latest SBI lending rates (applicable from August 15, 2025) Tenor Existing MCLR (In %) Revised MCLR (In %) Over night 7.95 7.9 One Month 7.95 7.9 Three Month 8.35 8.3 Six Month 8.7 8.65 One Year 8.8 8.75 Two Years 8.85 8.8 Three Years 8.9 8.85 Source- SBI website SBI home loan interest rates (effective from August 1, 2025) State Bank of India increased the upper range of home loan interest rates from August 1 while keeping the initial range unchanged. SBI home loan interest rates vary from 7.50% to 8.70%. SBI Home loan Maxgain OD interest rates vary from 7.75% to 8.95%. For a top-up home loan, the interest rates vary from 8.25% to 10.75%. The revised home loan rates are effective from August 1, 2025. SBI EBLR and RLLR rates (effective from June 15, 2025) The bank has been offering an External Benchmark Lending Rate (EBLR) of 8.15% + Credit Risk Premium (CRP) + Business Strategy Premium (BSP) since June 15, the Repo Linked Lending Rate (RLLR) has been 7.75% + CRP, effective June 15, 2025. What is CIBIL score? The Credit Information Bureau (India) Limited (CIBIL) is the most popular of the four credit information companies licensed by the Reserve Bank of India. There are three others which are also licensed by the RBI to function as credit information companies. They are Experian, Equifax and Highmark. What is the processing fee for SBI Home loans? The processing fee for the SBI regular home loan is 0.35% of the loan amount plus GST subject to a minimum of Rs 2,000 plus applicable GST and a maximum of Rs 10,000 plus GST. Lending rates of other banks In August 2025, Bank of Baroda, HDFC Bank, and Punjab National Bank also reduced their Marginal Cost of Funds Based Lending Rates (MCLR), while Canara Bank and Indian Bank kept their rates unchanged.
&w=3840&q=100)
Business Standard
13-06-2025
- Business
- Business Standard
SBI cuts EBLR, home loan rates by 50 bps after RBI's policy rate cut
The country's largest lender, State Bank of India (SBI), on Friday reduced its External Benchmark Lending Rate (EBLR) and home loan rate by 50 basis points, keeping with Reserve Bank of India's half per cent cut in policy repo rate. The revised EBLR would be 8.15 per cent as against the old rate of 8.65 per cent. According to revised data on SBI's website, its home loans rate -- which is linked to EBLR -- would be in the range of 7.5-8.45 per cent based on the credit score of the borrowers. The lender also reduced the interest rate on the special deposit scheme (444 days) by 25 basis points. The revised rates will be effective from June 15, 2025. 'We have passed an entire cut in repo rate,' a senior SBI executive said. EBLR works as a benchmark for pricing various loans and its calculation takes into account Credit Risk Premium reflecting the risk associated with a borrower's credit profile and Business Strategy Premium. On the deposit side, the bank reduced the interest rate of the special deposit scheme 'Amrit Vrishti' (444 days) by 25 bps from 6.85 per cent to 6.60 per cent with effect from June 15, 2025, SBI website showed. The card rates for domestic retail term deposits (those below ~ three crore) have not been changed for now. Last month, SBI had reduced the interest on term deposits across maturities by 20 basis points. Bank is still reviewing these rates, SBI executive said. Meanwhile, rating agency CareEdge in a statement said deposit raising remains competitive, especially low-cost Current Account Savings Account (CASA) deposits. Further, a reduction in deposit rates by banks would reduce the cost of deposits with a lag of two-three quarters, impacting the net interest margins (NIMs) for the financial year 2026 (FY26). Indian banks would see pressure on NIM. It is expected to decline around 20-25 bps in FY26 compared to FY25 due to a declining interest rate scenario, with yield on advances expected to fall higher than the cost of deposits, the agency added.
