SBI cut interest rate on CC/OD

Prelims level : Mains level :
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  • State Bank of India announced introduction of repo rate linked home loans from 1 July.
  • It will pass on the 25 bps repo rate cut, announced by the Reserve Bank of India yesterday, to some cash credit borrowers.
  • The effective repo-linked lending rate (RLLR) for CC/ OD customers is 8% now, while for savings deposits above 1 lakh the new rate would be 3%.
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