Good news for those taking home loan from SBI

Good news for those taking home loan from SBI, bank reduced interest rates, 80 lakh people benefited

On the new year's occasion, State Bank of India (SBI), the country's largest bank, has given a big gift to its customers. SBI has reduced the base rate based interest rates by 0.30 per cent while providing relief to the customers. This will be applicable only from January 2018. SBI has reduced base rate based interest rate from 8.95 percent to 8.65 percent for existing customers. Not only this, the bank has also reduced interest rates on the benchmark prime lending rate, which means BPLR based loans. The bank has reduced the benchmark prime lending rate ie BPLR from 13.70 percent to 13.40 percent. This move of SBI will benefit about eight million subscribers.

Not only this, SBI has extended the discount on home loan fees up to March 31, 2018 for new customers. It will be cheaper to take home loan, car loan from this step of the bank. Also, the common man will get the direct benefit of this cut from the bank.

By cutting its base rate, SBI has given a big gift to its customers on New Year's spot, because a large number of consumers have loans related to the base rate. This deduction will definitely benefit the customer. This deduction is part of the bank's efforts, which recently ensures the transmission rates reduction. PK Gupta, Managing Director, Retail and Digital Banking at SBI, said that around 80 lakh customers will be benefited from this move by the bank.

Let us state that State Bank of India (SBI) is India's largest commercial bank, which was ranked 217th in the list of the world's biggest companies in Fortune Global 500 in July 2017. This bank has 198 offices in 35 countries around the world. SBI has a strong hold throughout the world, along with India's financial sector. SBI has many joint ventures, including life insurance, general insurance, investment banking, mutual funds, broking and depository services, credit cards, pension fund management, etc.

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