SBI Home Loans to get cheaper

Breaking News! The SBI home loans may soon get cheaper, according to bank sources. The SBI has already decided to reduce its prime lending rate (PLR) by 75 basis points, which means the PLRs will come down to 13% from 13.75%. Over the past few months, SBI home loan market has increased from 17.25% to 18%.

The largest bank of India is contemplating to reduce the home loans by 50 basis points, which will provide a huge relief to customers who rely on SBI home loans to materialise their dream of owning a house. Around 80-90% of people who opt for SBI home loan, belong to the low and middle income groups.