State Bank of India reduces home loan interest rates to 6.7%

Women borrowers to get a special concession of 5 bps

State Bank of India, the country's largest lender, on Saturday said it has cut the interest rates it charges on home loans. The rates now start at 6.7 per cent for loans up to Rs 30 lakh.

The state-owned bank has a home loan portfolio of about Rs 5 trillion, making it the market leader.

The bank will charge interest at 6.95 per cent for loans between Rs 30 lakh-Rs 75 lakhs Big-ticket loans above Rs 75 lakh will attract a rate of 7.05 per cent, the bank said in a statement.

Earlier in March, the bank had