State Bank of India, has reduced home loan rates up to 30 lakh, a reduction of 25 bps.The effective interest rate for all eligible salaried customers will be 8.35%p.a. for loans up to 30 lakhs.

For loans over 30 lakh, the effective interest rate will be 8.5% lower by 10 bps. A steep hike in the Home Loan enquiries recently and reduction in rates will further help millions of homebuyers fulfil their dream of owning a home. The customer can now save Rs 530 per week.

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