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SBI cuts external benchmark rate by 25 basis points

Dec 30, 2019 14:29 IST

The country’s largest lender, State Bank of India on Monday announced a reduction in its external benchmark based rate by 25 bps to 7.80% per annum. The revision will come into effect from January 1, 2020. With this reduction, interest rate for existing home loan customers as well as MSME borrowers who have availed loans linked to external benchmark based rate would come down by 25 basis points.

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