Set with market expectations, the Reserve Bank of India (RBI) on Tuesday cut off short term repo rate by 0.25 to 7.75 % in its quarterly monetary review, raising hopes that Indian economy is appearing on right track. Read more
Tag: Car Loan
SBI revises retail lending rates
Good news for home loaners, India’s top lender State Bank of India recently announced to relief in retail rates with cut by up to 50 basis points, 0.25-0.60 %.
As per SBI revised plan, Car loans above Rs. 75 lakh will be charged 10.40% interest rates from existing 11.25%, while Home Loans of Rs. 30 lakh- Rs. 75 lakh will be charged to 10.40%, from 10.75%.
People who lend money upto Rs. 30 lakh will now pay interest with 10.25% from current 10.50%. Read more
