Tag: Mclr

Mumbai: Public sector lender State Bank of India (SBI) on Wednesday became the first Indian bank to link its saving and loan interest rates to the Reserve Bank of India (RBI)’s repo rate. The move assumes significance as the effective interest rate from May 1 on savings deposit above Rs 1 lakh will come down […]

New Delhi: The State Bank of India (SBI) on Wednesday announced lowering its marginal cost of funds based lending rate (MCLR) by 10 basis points across all tenors to 8.05 per cent from October 10. The MCLR cut will make home and other retail loans cheaper for the existing borrowers. The bank’s one-year MCLR has […]

Mumbai: Lending major State Bank of India has reduced its MCLR (Marginal Cost of Funds based Lending Rate) by 5 basis points across all tenors. The one year MCLR has come down to 8 per cent per annum from 8.05 per cent per annum with effect from November 10, 2019. This is the seventh consecutive […]