SBI adopts repo rate! Good news for housing, retail loan-takers! Check onlinesbi.com
Country’s largest lender State Bank of India (SBI) has decided to adopt Repo Rate as the external benchmark for all floating rate loans for MSME, housing and retail loans effective October 1, 2019, as per RBI’s notification dated 4th Sept 2019.
SBI had introduced floating rate home loans effective July 1, 2019. A few modifications have been made in the scheme effective 1st October 2019 to comply with the latest regulatory guidelines. Reuters