State Bank of India
(SBI) lower housing loan rates for new borrowers & offer a special discount to women, in moves
prompted by the RBI keeping policy rates unchanged on Wednesday contrary to
expectations.
The SBI bank lower rates by 0.15% to 0.25% and raised the borrowing limit for
loans at the lowest rate.
The reduction in risk
weightage and poor demand for loans have been the key reasons for SBI to reduce
rates, said a senior SBI official.
SBI charge 10.15
% on loans up to.75 lakh and 10.30 % on loan amounts higher than that. Women
borrowers will get a further 0.05% off.
Earlier, the bank
charged 10.30 % for loans up to.30 lakh and 10.50 % for loans above that. The
aim is to attract customers and improve market share, said an SBI official.
The decision to
reduce rates had been taken at a meeting of the high-level asset liability
committee. SBI has a home loan book of Rs. 1,30,034 crore that comprises 13.6 %
of the banks loan book.
The move to raise
borrowing limit at the minimum rate to Rs. 75 lakh from Rs. 30 lakh comes after
RBI changed its policy on risk weightage.
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