HDFC home loan currently offers interest rates starting at 8.65% per annum, while SBI’s home loan interest rates start at 8.85% per annum. Both banks offer interest rates lower than the industry average, but SBI home loan rates are slightly higher than HDFC home loans. It’s worth noting that interest rates are subject to change based on

Latest State Bank of India (SBI) Home Loan Interest Rates 2023: As of November 22, 2023, SBI's home loan interest rates range between 8.6 percent and 9.45 percent per annum. The specific rate depends on factors such as the loan amount, tenure, the borrower's credit score, and the type of home loan chosen.
SBI Home Loan Interest Rates. SBI Home Loan provides the best interest rates starting from 8.40%. It varies depending upon the loan amount, occupation, income, etc. Loan Slab. Interest Rates Per Annum. For women (limited to Rs 30 lakhs) 8.55%. For others (limited to Rs 30 lakhs) 8.60%.
SBI MCLR: SBI's decision to hike MCLR follows the 25 basis point increase in the repo rate by the Reserve Bank of India (RBI) to 6.50 per cent last week. SBI MCLR: State Bank of India (SBI) has hiked the loan interest rates based on the Marginal Cost of Lending Rate (MCLR) by 10 basis points w.e.f. from February 15.
For short-term loans, the State Bank of India has hiked its Marginal Cost of Funds-based Lending Rate (MCLR) by ten basis points (bps). The revised rates will take effect on 15 August 2022. While The one-year MCLR rate has been revised at 7.70% p.a. the one-month, two-month, and three-month rates have all had rate hikes.

There is a reset-period for MCLR based home loans, after which the rates get revised for the borrower. SBI generally offer a rest period of 1 year for MCLR-based loans. For the borrowers, this means that SBI will have to reprice the interest rates on loans after 1 year to pass on any changes in the external benchmark rate.

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