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SBI cuts interest rate on home loans by 5-15bps

SBI will now offer uniform interest rate on home loans effective August 26.

India’s largest lender  State Bank of India (SBI) has revised interest rates on its home loan offering, reports CNBC-TV18. The PSU major will now offer uniform interest rate on home loans effective August 26.

It has cut interest rate by 5-15 bps on home loans. The 15 bps cut is on home loans above Rs 75 lakh, while 5 bps cut is for home loans up to Rs 75 lakh.

(Base rate: 10%)

Borrowers’ category Home Loan interest rate, irrespective of loan limit Maxgain above Rs. 1 crore
Women 10 bps above the BR i.e. 10.10% p.a. 35 bps above the BR i.e. 10.35% p.a.
Others 15 bps above the Base Rate i.e. 10.15% p.a. 40 bps above the Base Rate i.e. 10.40% p.a.

 

CRE Maxgain

Borrowers’ category  CRE Maxgain interest rate, irrespective of loan limit
Women 55 bps above the BR i.e. 10.55% p.a.
Others 60 bps above the BR i.e. 10.60% p.a.

 

SBI stock price

On August 26, 2014, State Bank of India closed at Rs 2493.15, down Rs 15.95, or 0.64 percent. The 52-week high of the share was Rs 2833.85 and the 52-week low was Rs 1452.90.


The company’s trailing 12-month (TTM) EPS was at Rs 147.33 per share as per the quarter ended June 2014. The stock’s price-to-earnings (P/E) ratio was 16.92. The latest book value of the company is Rs 1584.34 per share. At current value, the price-to-book value of the company is 1.57.

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