SBI hikes MCLR by 10 bps across tenures within 2 months: Check rates
Zee News
RBI increased the policy repo rate to 4.4 percent from 4 percent earlier this month.
New Delhi: With effect from Sunday, the largest public sector bank, SBI, has increased its Marginal Cost Of Funds Based Lending Rate (MCLR) by 10 basis points across all tenures. SBI will raise its benchmark lending rates for the second time in two months.
SBI's one-year MCLR was raised to 7.20 percent on May 15 from 7.10 percent previously. The MCLR has been raised to 7.40 percent for the next two years, up from 7.30 percent previously, and to 7.50 percent for the next three years, up from 7.40 percent previously.
The six-month MCLR has been increased from 7.05 percent to 7.15 percent. The MCLR is now 6.85 percent for three months, one month, and overnight tenures, up from 6.75 percent previously.
SBI boosted this benchmark by 10 basis points last month, ahead of the RBI's unexpected 40-basis-point hike in the key policy repo rate.
RBI increased the policy repo rate to 4.4 percent from 4 percent earlier this month.
