SBI Home Loan: State Bank of India (SBI), the country’s largest government bank, has given relief to its crores of customers on 15 August Independence Day. SBI has reduced interest rates related to home loan and car loan. This can reduce the EMI or Tenure of the old home loan. Taking a new home loan will be cheaper than before. Also EMI can be reduced. This benefit will be to those SBI customers who have taken loans at floating rates. SBI has reduced MCLR by 0.05 per cent. These new rates have come into force today from 15 August 2025.
SBI MCLR applicable from August 15
MCLR i.e. Marginal Cost of Funds based landing rate has been reduced by 0.05 per cent this time.
Overnight and 1 month MCLR: 7.90%. This was 7.95 percent earlier.
3 months MCLR: 8.35% to 8.30%.
6 months MCLR: 8.70% to 8.65%.
1 year MCLR: 8.80% to 8.75 percent.
2 -year -old MCLR: 8.85% Fasidi was reduced to 8.80%.
3 -year -old MCLR: 8.90% percent to 8.85%.
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. Because now you will get a home loan, car loan at a low interest rate.
Home loan processing fees
SBI charges 0.35% processing fees on home loans (GST separate), with a minimum limit of Rs 2,000 and a maximum limit 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.