SBI Home Loan: State Bank of India (SBI), the country’s largest government bank, has given relief to its crores of customers. SBI has reduced the rates related to home loan and car loans. This can reduce the EMI or tenure of the old home loan. Taking a new home loan will be cheaper than before. If you have taken a home loan or a floating rate loan from SBI, now you will get relief. SBI has reduced MCLR by 0.25 per cent. These new rates have come into force today from 15 July 2025.
What is SBI MCLR in July 2025?
MCLR i.e. Marginal Cost of Funds based landing rate has been reduced by 0.25 per cent this time.
Overnight and 1 month MCLR: 7.95%. This was 8.20 percent earlier.
3 months MCLR: 8.55% to 8.35%.
6 months MCLR: 8.90% to 8.70%.
1 year MCLR: 9.00% to 8.80%.
2 -year -old MCLR: 9.05% Fasidi was reduced to 8.95%.
3 -year -old MCLR: 9.10% percent to 8.90%.
This move of SBI can provide relief in EMI in the coming time. Especially those customers whose loan interest rate is related to MCLR or other floating rates. If you are thinking of taking a new home loan or wanting a top-up, then this time can be beneficial for you.
Other SBI’s other lending rates
Repo Linked Lending Rate – 7.75% + CRP (These rates are applicable from June 15.)
EMI of loans associated with EBLR and RLLR may also be reduced, but this change depends on the reset date of the loan.
SBI Home Loan Interest Rate
General Home Loan: 7.50% to 8.45% (These rates depend on the cibil score of users.)
Maxgain overdraft home loan: 7.75% to 8.70%
Top-up home loan: 8% to 10.50%
(All rates are applicable since 15 June 2025)
Home loan processing fees
SBI charges 0.35% processing fees (GST separate), with a minimum limit of up to Rs 2,000 and a maximum of Rs 10,000.
What is a cibil score?
CIBIL is a credit information company, which gives your credit history and score. Better score means the possibility of getting a loan at a low interest rate. Apart from this, Experian, Equifax and Highmark are also RBI recognized credit agencies.