State Bank of India Home Loan Rate

The increased lending rate by RBI has made the banks to hike the interest rates to the consumers, this has made it difficult for consumers to plan their investments and reckon the profitability out of their property investments.

State Bank of India has raised the loan interest to 11-12 percent for floating rate and additional 2 percent i.e. 13-14 percent for fixed rate. This used to be 6.75 – 9.5 near around 2 years back. With property rates increasing 300% a year and now interest rates nearly doubling the actual rates has made home loans not so attractive for consumers with average income levels.