The State Bank of India (SBI), recently announced a potential increase in its marginal cost of funds-based lending rates (MCLR) by another 10-15 basis points (bps). This comes on the heels of a recent 10 bps hike implemented on June 15. The move signals that MCLR rates, which influence the cost of corporate loans, have not yet reached their peak. Here’s an in-depth look at what … [Read more...] about SBI Indicates Another 10-15 Basis Points MCLR Hike: What It Means for Borrowers and the Economy
MCLR
SBI Increases MCLR | Expect An Increase In Home, Auto And Other Loan EMIs
The State Bank of India has increased the Marginal Cost of Lending Rate (MCLR) by ten base points. This is followed by RBI's new rule that replaces base rate with MCLR. As a result, now there is a ten base points increase in overnight, one month, three months, six months, one year, two years and three years MCLR. Refer to the table below for the new rates. What does … [Read more...] about SBI Increases MCLR | Expect An Increase In Home, Auto And Other Loan EMIs