SBI Offers ₹50 Lakh Home Loan at 7.25%: Daily ₹1,150 EMI Possible!

• RBI repo rate cut enables SBI to offer home loans starting at 7.25%, reducing interest burden.
• A ₹50 lakh home loan for 30 years at 7.25% results in an EMI of ₹34,500, or ₹1,150 daily.
• Required monthly income for a ₹50 lakh loan is approximately ₹69,000, assuming no other debts.
• A strong credit score is crucial for securing lower interest rates and faster loan processing.
• Financial experts advise comparing offers from various banks and considering long-term financial stability before committing.

Why It Matters: SBI's low home loan rates make homeownership accessible, but financial planning and credit score are vital.