SBI hikes rates, home loans now begin at 7.55%

Mumbai, June 15

The State Bank of India has hiked the minimum interest rates on home loans to 7.55 per cent effective Wednesday.

The move follows a 50 basis points hike in repo rate to 4.9 per cent by the RBI last week. In May also, the RBI had hiked repo rate by 40 basis points.

The lender has hiked its External Benchmark-based Lending Rate to a minimum of 7.55 per cent effective today as compared to 7.05 per cent earlier, as per its website.