INSUBCONTINENT EXCLUSIVE:
The MCLR for a three-year tenor increased to 8.65 per cent from 8.45 per cent.New Delhi: Home, auto and other loans would become costlier as
the country's largest lender SBI Saturday increased its benchmark lending rates or MCLR by 0.2 per cent, a development followed by other
The new rates are effective from today
State Bank of India (SBI) has increased the lending rate by 20 basis points across all tenors up to three years
Now SBI's overnight and one-month tenors' Marginal Cost of Funds Based Lending Rate (MCLR) stands at 8.1 per cent as against 7.9 per cent,
tenor increased to 8.45 per cent from 8.25 per cent earlier
Most of the retail loans are bench marked against one-year MCLR
The MCLR for a three-year tenor increased to 8.65 per cent from 8.45 per cent.The rate hike by bank comes a month after the Reserve Bank of
India (RBI) hiked benchmark lending rate called repo rate by 25 basis points to 6.5 per cent
RBI had last raised the repo rate on June 6 by 0.25 per cent to 6.25 per cent
