NEW DELHI: (Jun 16) The country’s biggest lender State Bank of India (SBI) has reduced its lending rate by 50 basis points following the Reserve Bank’s policy rate cut, making loans cheaper for both existing and new borrowers.
With the latest round of reduction, the Repo Linked Lending Rate (RLLR) of SBI would come down by 50 basis points to 7.75 per cent.
It has also reduced the External Benchmark Based Lending Rate (EBLR) by similar basis points to 8.15 per cent from 8.65 per cent earlier. PTI
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