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State Bank Of India
BSE: 500112 | NSE: SBIN
Large Cap | Bank - Public
1064.50
1.70 (0.16%) SBI reduces external benchmark-based rate by 25 bps
Date: 30-12-2019State Bank of India (SBI) has reduced its external benchmark-based rate (EBR) by 25 basis points (bps) to 7.80 percent from 8.05 percent. The new rates will be applicable from January 1, 2020.
With this reduction, interest rate for existing home loan customers as well as micro, small and medium enterprises (MSME) borrowers who have availed loans linked to external benchmark based rate would come down by 25 basis points. The new home buyers will get loans at an interest rate starting from 7.90 percent per annum compared to earlier 8.15 percent per annum.
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.