SBI cuts lending rates after RBI repo rate revision: Check latest interest rates
Following the RBI's repo rate cut, SBI has reduced its key lending rates by up to 0.50%, effective June 15, 2025. The External Benchmark Rate (EBR) is lowered to 8.15%. Consequently, SBI home loan interest rates now range from 7.50% to 8.45% based on the borrower's CIBIL score.
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What is the processing fee for SBI Home loans
In a move aligned with the Reserve Bank of India's recent 50-basis-point cut in the repo rate, the State Bank of India (SBI) has cut its key lending rates by up to 0.50%. SBI is the country's largest public sector lender. A cut in the repo rate impacts various loan-linked benchmarks , including the External Benchmark Rate (EBR), External Benchmark Lending Rate (EBLR), and Repo Linked Lending Rate (RLLR).Here's a detailed look at SBI's latest lending, including home loan, interest rates effective June 15, 2025.SBI's Marginal Cost of Funds Based Lending Rate (MCLR) remains unchanged as on June 14, 2025. The overnight and one-month MCLR are both at 8.20%, while the three-month rate is 8.55% and the six-month rate is 8.90%. The one-year MCLR is 9.00%, with the two-year and three-year rates at 9.05% and 9.10% respectively.With effect from June 15, 2025, the External Benchmark Rate (EBR) has been from 8.65%to 8.15%. The EBR is the rate on the basis of which banks determine the interest rates for various floating rate loans, including home loans and MSME loans, as mandated by the Reserve Bank of India (RBI).As per SBI website, the EBR is made up of two parts:RBI Repo Rate: 5.5%Spread (fixed by the bank): 2.65% for SBIFinal EBR = Repo Rate + Spread = 5.5% + 2.65% = 8.15%SBI home loan interest rate varies from 7.50% to 8.45% based on the CIBIL score of the borrower. SBI Home loan Maxgain OD interest rate varies between 7.75% and 8.70%. For a top up home loan, the interest rate varies between 8% and 10.50%. These rates are effective from June 15, 2025.Note that all home loans from SBI are linked to the External Benchmark Lending Rate (EBLR) and the prevailing EBLR is 8.15%. Interest rates for different individuals also vary depending on their CIBIL score, loan tenure and amount among other factors.The Credit Information Bureau (India) Limited (CIBIL) is the most popular of the four credit information companies licensed by the Reserve Bank of India. There are three other companies also licensed by the RBI to function as credit information companies. They are Experian, Equifax and Highmark.CIBIL Score is a 3-digit numeric summary of your credit history, rating and report, and ranges from 300 to 900. The closer your score is to 900, the better your credit rating is.SBI charges a processing fee of 0.35% of the home loan amount (plus applicable GST), subject to a minimum of Rs 2,000 and a maximum of Rs 10,000 (both excluding GST).
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