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SBI Cuts Interest Rates by 50 bps
Millennium Post Kolkata
|Kolkata 17June2025
The country's biggest lender, State Bank of India (SBI), has reduced its lending rate by 50 basis points following the Reserve Bank's policy rate cut, making loans cheaper for both existing and new borrowers.
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NEW DELHI:
With the latest round of reduction, the Repo Linked Lending Rate (RLLR) of SBI would come down by 50 basis points to 7.75 per cent.
It has also reduced the External Benchmark Based Lending Rate (EBLR) by similar basis points to 8.15 per cent from 8.65 per cent earlier.
The revised rates come into effect from June 15, 2025, according to updated rate information on SBI's website.
The rate reduction is in response to the June 6 RBI jumbo rate cut by 50 basis points to support growth, which hit a four-year low of 6.5 per cent in FY25.
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