SBI prices home loans at 265 bps over repo rate from October 1

SBI also said that a 5 bps concession will be given to women borrowers under each category of loans.

The country’s largest lender State Bank of India (SBI) on Wednesday came out with its new repo-linked home loan scheme. The bank said that it will charge a 265 basis point (bp) spread over the Reserve Bank of India’s (RBI) repo rate on new home loans from October 1.

The repo rate at 5.4 per cent and the 265 bps spread takes the external benchmark rate (EBR) to 8.05 per cent. On top of this, SBI will charge a premium of 15 bps thereby taking the interest charged on a home loan of up to Rs 30 lakh to 8.2