SBI reduces external benchmark rate by 25 bps; loans to get cheaper

The revised effective benchmark lending rate of 7.8 percent (down from 8.05 percent) will come into effect from January 1, 2020. New home buyers will get loans at an interest rate starting from 7.9 percent a year(previously at 8.15 percent).

from Personal Finance News-Wealth-Economic Times https://ift.tt/39nuuop