State bank of India has declared to cut the interest rate in housing loan, for the Prime Minister's vision of providing 'housing for all' by 2022.
As per the sources said, "SBI has announced an interest rate cut of up to 25 basis points for affordable housing loans under Rs 30 lakh. In a limited period offer which will be valid till 31st July, salaried woman borrowers can avail loan at an interest rate of 8.35 percent, offering a reduction of 25 basis points while for the non-salaried, the rate cut will be a 20 basis points."
Further added, "For salaried male borrowers, loan will be available at 8.40 per cent; a rate cut of 20 basis points while for the non-salaried, the rate cut will be a 15 basis points."
The new changes will be effective from 10 May 2017.
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