The home loan lending rate will be lower tha the PLR for corporate loans
State Bank of India (SBI) is considering introducing a segmental prime lending rate (PLR) for home loans. It is also thinking in terms of extending the benefit of lower rates, which only new home loan customers enjoy, to existing customers. The SBI home loan PLR will be pegged lower than the PLR for corporate loans.
According to P N Venkatachalam, managing director, the board will take a decision on introducing the new home loan PLR towards this month-end.
The bank