00:00There is great relief for home loan customers in the country.
00:07Recently, after a cut of 25 basis points in the repo rate by the Indian Reserve Bank,
00:13two major government banks of the country, SBI and PNB, have given great relief to customers by reducing the interest rates of home loans.
00:21With this decision by the banks, it will be cheaper for you to take a home loan and your EMI will also be reduced and it will be easier for you to buy the house of your dreams.
00:31So let's tell you the details of this news in this video.
00:34The State Bank of India has cut 25 basis points in its home loan interest rate, which has made the new rates 8.25%.
00:43These new rates have been implemented since February 15, 2025.
00:46SBI has also cut external benchmark-based lending rates i.e. EBLR and repo-linked lending rates i.e. RLLR.
00:56The PNB has cut 0.25% interest rates on home loan and vehicle loan, including retail loan.
01:04And the new rates have been implemented since February 10.
01:07The EMI of the home loan will now be reduced if the interest rates of the State Bank of India and the PNB are reduced.
01:13And we will tell you how much benefit you will get from this.
01:17If you take a home loan of Rs 50 lakh for 20 years, then there can be changes in the EMI.
01:22SBI's old interest rate was 8.50% and the EMI was Rs 43,391.
01:29The total interest payment was Rs 54,13,889 and the total payment was Rs 1,04,13,889.
01:38If we talk about the new interest rates, then this interest rate has become 8.25%.
01:43Accordingly, the EMI will be of Rs 42,603.
01:47The total interest payment is Rs 52,24,788 and the total payment is Rs 1,02,24,788.
01:54In this way, you will save around Rs 788 in EMI every month.
01:59The PNB has also announced a reduction of up to 25 basis points in interest rates on home loans and other retail loans.
02:06Earlier, the home loan rates of the bank were 8.40%, which has now reduced to 8.15%.
02:13The EMI of the home loan duration of Rs 50 lakh for 20 years on the old interest rate was Rs 43,075 per month.
02:22The total interest was Rs 53,38,054.
02:26With interest, the total amount was Rs 1,03,38,054.
02:33So, in this way, your EMI has reduced on home loans.
02:36So, what is your opinion on this news?
02:38Give us your opinion in the comment box and keep watching Good Returns for such updates.
02:42Don't forget to like and subscribe to our channel.
02:52Thank you for watching it.
Comments