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SBI Kicks Off With a 0.15% Cut in Base Rates. Will Others Follow?

The State Bank of India is cutting its base rate down by 0.15%, finally. Their new base rate is 9.85%.

The base rate is the rate at which all bank loans are marked, so every single floating rate loan will see a drop in interest rates. This applies to:

Home loans (both new and existing) will see a drop Loans by corporates that are linked to base rates . . .

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