SBI Hikes Lending Rates With Effect From Today Loans Get Costlier


 SBI Hikes Lending Rates With Effect From Today; Loans Get Costlier

New Delhi: The largest lender in the country, Bank Negara India has decided to increase its marginalized costs from loan rates (MCLR) with loans with 10 basis points or 0.10 percent effective from 15 July 2022.

For one year tenor, the bank has decided to increase MCLR to 7.50 percent from 7.40 percent at this time, according to the notification released by the State Bank of India on its website on Thursday.

For a six -month tenor, MCLR will increase from 7.35 percent to 7.45 percent.MCLR in two years tenor will increase from 7.60 percent to 7.70 percent. In three years the tenor, it will increase from 7.7 percent to 7.8 percent.


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