After RBI's rate cut, SBI decides to link home loans to repo rate from this date - What borrowers should know
SBI statement said, "The benefit of reduction in the repo rate by 25 bps has been passed in its entirety to our CC/OD customers (limits above Rs 1 lakh), with effect from July 1."
Earlier in March 2019, the SBI had linked all CC accounts and ODs with limits above Rs 1 lakh to the repo rate plus a spread of 2.25 percent. Image source: Reuters