SBI cuts interest rate on CC/OD, introduces repo linked home loan product

1 min read . Updated: 07 Jun 2019, 08:16 PM IST Staff Writer

Bank says it'll pass on the 25 bps repo rate cut to some cash credit borrowers
On Thursday, RBI slashed repo rate by 25 bps to 5.75%

Country's largest public lender State Bank of India announced introduction of repo rate linked home loans from 1 July.

The bank said it will pass on the 25 bps repo rate cut, announced by the Reserve Bank of India yesterday, to some cash credit borrowers.

SBI also announced slashing of effective repo-linked lending rate for CC/OD (cash credit/overdraft) customers to 8%, which will be in effect 1 July onwards.

More details awaited...

SBI cuts interest rate on CC/OD, introduces repo linked home loan product

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