{"id":135682,"date":"2019-06-07T23:41:38","date_gmt":"2019-06-07T20:41:38","guid":{"rendered":"http:\/\/ww-vb.mine.nu\/w108\/sbi-to-link-home-loans-to-repo-rate-from-july\/"},"modified":"2019-06-07T23:41:38","modified_gmt":"2019-06-07T20:41:38","slug":"sbi-to-link-home-loans-to-repo-rate-from-july","status":"publish","type":"post","link":"https:\/\/hameed.nwar.uk\/sa\/sbi-to-link-home-loans-to-repo-rate-from-july\/","title":{"rendered":"SBI to link home loans to repo rate from July"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"article-main\">\n        <!-- .CONTENT BODY --><\/p>\n<p>After linking its short-term loans and large savings deposits rates to the repo rate, the largest lender <a href=\"http:\/\/www.moneycontrol.com\/india\/stockpricequote\/banks-public-sector\/statebankindia\/SBI\">State Bank<\/a> on Friday said it will introduce repo-linked home loans from July.<\/p>\n<p>The lender has also reduced interest rate on cash credit account (CC) and overdraft (OD) customers with limits above Rs 1 lakh, after the RBI reduced the repo rate by 25 basis points on Thursday.<\/p>\n<p>&#8220;We will introduce repo-linked home loans from July 1,&#8221; SBI said in a late evening statement.<\/p>\n<p>The monetary policy committee had unanimously decided to reduced repo rate by 25 basis points to 5.75 percent in the second bi-monthly policy Thursday, taking it down to a nine- year low, citing sagging growth and to cushion the rising headwinds to the economy.<\/p>\n<p>It was the third consecutive repo rate cut by RBI, with cumulative reduction of 75 basis points in 2019, so far.<\/p>\n<p>&#8220;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,&#8221; SBI said.<\/p>\n<p>The effective repo-linked lending rate (RLLR) for CC\/ OD customers is 8 percent now, it said, while for savings deposits above Rs 1 lakh the new rate would be 3 percent.<\/p>\n<p>In March, the bank had linked all CC accounts and ODs with limits above Rs 1 lakh to the repo rate plus a spread of 2.25 percent. For above Rs 1 lakh, it had set its savings deposit rates to 2.75 percent below the repo rate.<br \/>\n                <!--ad-spot --><br \/>\n        <!--ad-spot -->\n<\/div>\n<p><script>\n\t!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n\tn.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;\n\tn.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;\n\tt.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,\n\tdocument,'script','https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n\tfbq('init', '482038382136514');\n\tfbq('track', 'PageView');\n\t<\/script><script>(function(d, s, id) {\n  var js, fjs = d.getElementsByTagName(s)[0];\n  if (d.getElementById(id)) return;\n  js = d.createElement(s); js.id = id;\n  js.src = \"http:\/\/connect.facebook.net\/en_GB\/sdk.js#xfbml=1&version=v2.10\";\n  fjs.parentNode.insertBefore(js, fjs);\n}(document, 'script', 'facebook-jssdk'));<\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.moneycontrol.com\/news\/business\/sbi-to-link-home-loans-to-repo-ratejuly_12626441.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] After linking its short-term loans and large savings deposits rates to the repo rate, the largest lender State Bank on Friday said it will introduce repo-linked home loans from July. The lender has also reduced interest rate on cash credit account (CC) and overdraft (OD) customers with limits above Rs 1 lakh, after the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":135683,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-135682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tie-world"],"_links":{"self":[{"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/posts\/135682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/comments?post=135682"}],"version-history":[{"count":0,"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/posts\/135682\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/media\/135683"}],"wp:attachment":[{"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/media?parent=135682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/categories?post=135682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/tags?post=135682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}