SBI hikes MCLR by up to 25 bps; home loan EMIs to go up

SBI MCLR, Home Loan Interest Rate: State Bank of India (SBI), the country's largest lender, has increased its marginal cost of funds based lending rate (MCLR) by 25 basis points on select tenors. The revised rates will be effective from today, December 15, the public sector bank updated on its website.

As per the official SBI website, the overnight MCLR has been raised by 25 basis points from 7.60 per cent to 7.85 per cent, while the one-month MCLR went up from 7.75 per cent to 8.00 per cent.

The interest rate on the three-month MCLR has been increased to 8.00 per cent, up by 15 basis points. The six-month MCLR has also been increased by 25 bps from 8.05 per cent to 8.30 per cent.

The interest rate on one year MCLR has been increased to 8.30 per cent, up by 25 basis points. The two years MCLR has also been increased by 25 bps from 8.25 to 8.50.

Also read- Bank of Maharashtra hikes MCLR by up to 30 bps; home loan, auto loan EMIs to go up

Moreover, the interest rate on three year MCLR has been increased to 8.60 per cent, up by 25 basis points

SBI EBLR RLLR

SBI has revised SBI External Benchmark based Lending Rate (EBLR)from 8.55 per cent +CRP+BSP to 8.90 per cent+CRP+BSP and Repo Linked Loan Rate (RLLR) from 8.15 per cent +CRP to 8.50 per cent +CRP.

SBI BPLR

The bank's Benchmark Prime Lending Rate (BPLR) has been revised as 14.15 per cent per annum, effective from December 15.

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