State Bank of India (SBI), the largest Home Loan Provider in India has taken another step to reduce home loan interest rates. Home Loans above Rs 75 lakhs will now be cheaper by 10 bps w.e.f. 15th June, 2017. The revised interest rates will be 8.55% p.a. for salaried women borrowers. For others the rate of interest will be 8.60% p.a.
 
This is the second reduction in interest rates in last two months. SBI had reduced its interest rates by 25bps on April 09, 2017. 
 
Rajnish Kumar, MD, National Banking, SBI, ''Buying a home is a big decision. SBI has always been at the forefront in keeping the customers benefit first. This interest rate reduction will help home buyers come closer to their dream home.''

''Taking a cue from the recent RBI reduction in risk weightage on home loans, SBI is passing on the benefit to its customers by reducing its interest rates on home loan above Rs. 75 lakhs.'' 

Shares of the bank declined Rs 0.3, or 0.1%, to settle at Rs 288.50. The total volume of shares traded was 1,461,948 at the BSE (Friday).