Question

Reduction of home loan interest rates by sbi; a positive move

Answer 1

Answer:

Tips to Reduce your Interest Burden While Repaying Home Loan

To ensure a lower interest payout, decrease the interest rate of your loan. ...

Ensure quick repayment of the principal amount. ...

If you can, then pay more than the regular EMI. ...

You can also pay one more EMI (than the usual number of EMIs) every year.

Answer 2

Answer:

▶They hailed SBI's move. SBI or state Bank of India has reduced the home loan interest rate by 25 bps to 7.9 per cent from existing 8.15 per cent. this will lead to a whopping saving of around Rs 1,86,960 for a homebuyer on a home loan of Rs 50 lakh taken for 20 years. ✔

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