SBI Home Loan: If you have taken a home loan or a floating rate loan from SBI, then there is news of relief for you. State Bank of India (SBI) has changed its benchmark lending rates since 15 June 2025. This will directly benefit the loan customers. This will make you home loan cheaper and reduce EMI. Let us know how many interest rates will be applicable on taking a loan from SBI.
What is SBI MCLR in June 2025?
There has been no change in MCLR i.e. Marginal Cost of Funds based landing rate this time. The current MCLR rates of SBI are like this.
Overnight and 1 month MCLR: 8.20%
3 months MCLR: 8.55%
6 months MCLR: 8.90%
1 year MCLR: 9.00%
2 year old MCLR: 9.05%
3 year old MCLR: 9.10%
SBI EBR – June 2025
SBI has reduced the external benchmark rate (EBR) from 8.65% to 8.15%. This deduction has come into force from June 15. The EBR rate is based on RBI’s repo rate and bank’s spread.
RBI Repo Rate: 5.50%
SBI Spread: 2.65%
Final EBR = 5.5% + 2.65% = 8.15%
SBI EBLR and RLR in June 2025
EBLR i.e. External Benchmark Landing Rate is now 8.15% + CRP + BSP. Earlier it was 8.65% + CRP + BSP.
The RLR i.e. repo linked landing rate has been reduced from 8.25% + CRP to 7.75% + CRP.
New interest rates of SBI Home Loan
Now the interest rates will depend on your CIBIL score on taking a home loan from SBI.
SBI Home Loan Interest Rate: Between 7.50% to 8.45%
Maxgain overdraft interest rate: 7.75% to 8.70%
Top-up home loan interest rate: 8% to 10.50%
All these rates have been implemented from 15 June 2025.
If you are thinking of taking a new home loan or your loan is at floating rate, then these new SBI interest rates can prove beneficial for you. EMI’s burden will be slightly lighter by cutting interest rates. Those with better credit scores have a chance to get the lowest rate. Be sure to check your credit score before taking the loan and compare the interest rates of different banks.
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