The State Bank of Indias (SBI) has hiked its marginal cost of funds-based lending rate (MCLR) and base rate. The new rates are effective from December 15, 2023.
The MCLR-based rates will now range between 8% and 8.75%. The bank revised Benchmark Prime Lending Rate to 14.95% from 14.85%, effective from September 15, 2023.
State Bank Of India Home Loan: The revised MCLR rate is effective from July 15, as per the information posted on SBI website. With the revision, one-year MCLR has increased to 8.55 per cent, from the earlier 8.50 per cent. Most of the loans are linked to the one-year MCLR rate.