SBI may have cut its base lending rate by 40 basis points to 9.3 per cent following RBI’s latest policy rate cut, but home loan customers of the top lender will have to pay up to 0.7 per cent above the base rate, and interest of as much as 10 per cent for their loans.Accordingly, the actual reduction in home loan rate will be a maximum of only 20 basis points, while a higher margin above the base rate will mean that customers will have to pay the same rate of interest for home loans above Rs 1 crore.

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