SBI cuts interest rate on home loans up to ₹30 lakh by 10 bps

SBI has reduced the interest rate on housing loans of up to ₹30 lakh by 10 basis points to a range between 8.60% and 8.90% per annum. India's largest lender also cut its benchmark lending rates by five basis points across all tenors. The one-year marginal cost of fund-based lending rate (MCLR) now stands at 8.50%, down from 8.55%.