In a move set to benefit both existing and new borrowers, the State Bank of India (SBI) has announced a reduction in key lending rates following the Reserve Bank of India’s recent cut in the repo rate.
SBI has revised its Repo-Linked Lending Rate (RLLR) to 8.25% and its External Benchmark-Based Lending Rate (EBLR) to 8.65%, slashing both by 25 basis points. These revised rates will come into effect from April 15.
SBI Cuts Lending Rates by 0.25 Percent Following RBI's Policy Decision https://t.co/aC67KvATPG
— Loktej English (@LoktejEnglish) April 14, 2025
This development comes after the RBI reduced the repo rate to 6%—the second such cut in recent months—prompting SBI to align its retail loan interest rates accordingly.
Since October 1, 2019, SBI has been linking its retail loans, including home and personal loans, to external benchmarks under the EBLR system. The latest revision is expected to ease interest obligations for borrowers across various loan categories.
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