SBI cuts lending rate, home loans to get cheaper.
Dec. 9, 2019
India’s biggest lender State Bank of India or SBI today announced a cut in MCLR rate or marginal cost of funds-based lending rate by 10 bps across all tenors, effective from December 10th.
With this cut, home, car and other retail loans of SBI linked to MCLR will get cheaper. After the latest cut, SBI's one-year MCLR comes down to 7.90% per annum from 8.00% per annum. This is the eighth consecutive cut in MCLR by SBI this fiscal.
Source :
livemint
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