SBI passes on entire 75 bps rate cut to borrowers

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SBI passes on entire 75 bps rate cut to borrowers

Mar 28, 2020 11:36 IST

In a major relief for its customers, the State Bank of India on Friday said that it would pass on the entire 75 basis point rate cut to its retail borrowers. The bank said in a statement that its external benchmark linked lending rate and repo linked lending rate now stands at 7.05% and 6.65%, respectively. These new rates will be effective April 1, SBI said.

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