Home loan interest rate falls below 8% for first time in 15 years – Check SBI offers

For the first time in over 15 years, the interest rate on home has fallen below 8 per cent. And, it may go down further, if inflation continues to be under control. Home loan from the State Bank of India (SBI) is being offered at an interest rate of 7.95 per cent on loan amounts up to Rs 30 lakh to salaried individuals. The home loan interest rate was about 7.75 per cent around 2003. At a lower interest rate, the borrower will not only pay low EMIs but also pay lesser interest on the home loan.

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