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SBH reduces base rate by 15 bps
Following the recent announcement of reduction in policy rates by the Reserve Bank of India (RBI), the Asset Liability Management Committee of State Bank of Hyderabad (SBH) has revised the base rate downwards from 10.20 per cent to 10.05 per cent with effect from May 1.
Interest rates for new housing loans also reduced
Following the recent announcement of reduction in policy rates by the Reserve Bank of India (RBI), the Asset Liability Management Committee of State Bank of Hyderabad (SBH) has revised the base rate downwards from 10.20 per cent to 10.05 per cent with effect from May 1. The rates have been revised to provide a much anticipated relief to borrowers having floating rate advances linked to base rate.
The reduction in base rate would be applicable to all the existing as well as new loans with pricing linked to base rate. Consequent upon reduction of base rate to 10.05 per cent from 10.20 per cent, SBH announced reduction in interest rate of housing loans also with effect from Monday. Housing loans up to 75 lakh will be priced at 5 basis points above base rate while those above 75 lakh will be priced at 10 basis points above base rate.
