India News | SBI Raises Lending Rates by 0.10 Pc Across Tenors
Get latest articles and stories on India at LatestLY. Country's largest lender on Friday said it raised the marginal cost of fund based lending rates by 0.10 per cent across various tenors.
New Delhi, Jul 15 (PTI) Country's largest lender on Friday said it raised the marginal cost of fund based lending rates by 0.10 per cent across various tenors.
The benchmark one-year tenor MCLR (Marginal Cost of Fund based Lending Rates), used for most of the consumer loans such as auto, home and personal, will now be 7.50 per cent, up from the 7.40 per cent previously, the bank said.
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The tenor-wise MCLRs are effective from July 15, 2022, it added.
Among other tenor loans ranging from overnight to six-month, the MCLRs have been raised in the range of 7.15-7.45 per cent, up by 0.10 per cent each.
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The two-year and three-year MCLRs will now be priced at 7.70 per cent and 7.80 per cent, respectively.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)