SBI account holder alert! Bank to reduce MCLR by 15 bps, home loans become cheaper
In a major move, country’s largest lender State Bank of India (SBI) has announced the reduction in its MCLR by 15 bps across all tenors. The 1 Year MCLR would come down to 8.25% p.a from 8.40% p.a. with effect from 10th Aug 2019.
With today’s cut in the Policy rate, SBI’s effective Repo Linked Lending Rate (RLLR) for CC/ OD customers will stand revised to 7.65% w.e.f. 01.09.2019. Reuters