State Bank of India (SBI) raised its External Benchmark Linked Rate (EBLR) and Repo Linked Lending Rate (RLLR) by 25 basis points (0.25%), effective October 15, 2026. The increase will make new and existing home loans and other loans linked to these benchmarks more expensive. Regular home loan rates will now range from 7.50% to 8.80%.
Borrowers may see their Equated Monthly Installments (EMIs) rise. For example, the monthly payment on a ₹50 lakh home loan with 20 years remaining could increase by approximately ₹781. The move comes amid broader interest-rate adjustments and could affect housing demand.
Separately, on October 17, Global Finance magazine named SBI the World’s Best Consumer Bank 2026 for the second consecutive year, citing its achievements in customer service and digital innovation. On October 16, SBI also warned customers about sophisticated AI voice-cloning scams used for financial fraud.