SBI Slashes Interest Rates To Loan Borrowers!

If you have a good source of income and wanted to avail loan for your future goals, Here’s a good news from SBI!

SBI has slashed 5 Basis Points(0.05%)on all types of loans which would come into effect immediately from September 15th,2021.

With this implementation the interest rates has reduced to 7.45% while the Prime Lending Rate(PLR)has been adjusted to 12.20%; which is also slashed by 5 Basis Points.

Though there is huge competition among the Banks, according to RBI, Banks wouldn’t be able to lend loans below the specified base rate of 7.30-8.80%; as decided by the RBI

With the interest rate reduction, loan borrowers would avail loans at lower interest rates and fulfill their long-term dreams like purchasing a house, car etc at the prevailing low interest rates. Woman Borrowers would be given rebate of 0.05% on all types of loans.

So if you are in need of a loan, rush to your nearest SBI branch with your income proofs and grab the offer!

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