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State Bank of India (SBI) has reduced the home loan interest rates to 6.7 per cent for any loan amount.

SBI home loan rate cut: Cheaper rates for all loan amounts, here is what you need to know

Home loans slashed by India's largest bank, it is a mega 45 basis points cut from SBI. Check out all the details&nbsp;

Home loans slashed by India's largest bank

State Bank of India (SBI) has reduced the home loan interest rates to 6.7 per cent for any loan amount.

<a href="https://www.editorji.com/business-news/personal-finance/sbi-changes-imps-norms-service-charges-here-is-all-you-need-to-know-1641354703600" target="_blank">State Bank of India (SBI)</a> has reduced the home loan interest rates to 6.7 per cent for any loan amount. This is a festive offering by India's largest bank that is not only pulling rates to the lowest level in a decade but also making them available to both salaried and non-salaried people.
<h3>Also read:&nbsp;<a href="https://www.edtr.ai/aeg8" target="_blank">The Big Loan Bazaar! Find the cheapest loans at these banks</a> Home loan rate cut, what is the real saving?</h3>
The big move is the cut across all loan amounts, earlier a borrower availing a loan greater than Rs 75 lakh, had to pay an interest rate of 7.15%. With the new rates the interest burden is brought down by a whole 45 basis points.&nbsp;
<h3>SBI&nbsp;home loan rate cut, how everyone benefits</h3>
The rate of interest applicable for a non-salaried borrower was 15 bps higher than the interest rate applicable to a salaried borrower in the past. The new rate of 6.7% is applicable to both as&nbsp;SBI has said that it has removed this distinction.&nbsp;
<h3>The festive bonanza from banks roll in</h3>
<a href="https://www.editorji.com/story/watch-sbi-opens-floating-atm-on-srinagar-dal-lake-1629618651017">SBI</a>&nbsp;has also waived off the processing fees completely and will be offering interest concession based on the credit score of the borrower.&nbsp;

China&rsquo;s central bank has cut the reserve requirement needed by banks to boost liquidity in the system.&nbsp;People&rsquo;s Bank of China (PBOC) said on its website it would cut the reserve requirement ratio (RRR) for all banks by 50 basis points (bps).This move will release&nbsp;around 1 trillion yuan ($154.19 billion) in long-term liquidity in the Chinese economy. This is the first cut in reserve requirement by China since April 2020.&nbsp;

China's 1 trillion yuan boost to economy, cuts reserve requirement

This unprecedented move by China will release 1 trillion Yuan into the economy. Watch to know the new fillip for the dragon!

China cuts reserve requirement 

<ul>
<li>China cuts reserve requirement for banks to boost economy&nbsp;</li>
<li>People&rsquo;s Bank of China cut&nbsp;reserve requirement by 50 bps&nbsp;</li>
<li>China reserve requirement cut to release&nbsp;$154 billion</li>
<li>First&nbsp;cut in reserve requirement by China since April 2020</li>
</ul>

This is the first cut in reserve requirement by China since April 2020

China&rsquo;s central bank has cut the reserve requirement needed by banks to boost liquidity in the system.&nbsp;People&rsquo;s Bank of China (PBOC) said on its website it would cut the reserve requirement ratio (RRR) for all banks by 50 basis points (bps). This move will release&nbsp;around 1 trillion yuan ($154.19 billion) in long-term liquidity in the Chinese economy. This is the first cut in reserve requirement by China since April 2020.&nbsp;

rate cut

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