Highlights

State Bank of India increases loan rates across categories
Bank of Baroda had increased loan rates on April 11

Latest news

iQOO Buds Review: Monster Battery and Serious Gaming Chops for under ₹2,000

Repo rate today at 5.25%: how long an RBI decision takes to reach your home loan interest rate

CMF Buds Neo Review: 35dB ANC, 52-Hour Battery and Incredible Value

iQOO Z11 Review: A Balanced Mid-Range Powerhouse

Samsung Galaxy Watch 9 Review: Familiar, Faster And Better Where It Matters

Samsung Galaxy Watch Ultra2 Review: A Smarter, Tougher and Longer-Lasting Ultra

Gabit Smart Ring Review: A Better Way To Track Your Health?

Xiaomi Power Bank 5i 20000 67W Review: A Powerful Travel Companion

SBI hikes rates, loans & EMIs get more expensive

Name: SBI hikes rates, loans & EMIs get more expensive
Uploaded: 2022-04-18T10:48:23.000+05:30
Duration: T00M28S
Channel: EJ Biz Desk
Description: In a big move India's largest babk State Bank of India (SBI) has hiked loan rates which is going to hurt consumers as prices across the board continue to rise. SBI raised the marginal cost of lending rate (MCLR) by 10 basis poi...

SBI hikes MCLR by 10 bps across tenors, effective April 15

Updated: Sep 02, 2022 10:53

EJ Biz Desk

Join our WhatsApp Channel

SBI hikes rates, loans & EMIs get more expensive

In a big move India's largest bank State Bank of India (SBI) has hiked loan rates which is going to hurt consumers as prices across the board continue to rise.

Also read/watch| Infosys share price sinks; here is what brokerages are saying

SBI raised the marginal cost of lending rate (MCLR) by 10 basis points (bps) across all loan tenors. One basis point is equivalent to one-hundredth part of a percentage point. The hike in rates is applicable immediately.

SBI's one year MCLR increases to 7.10% vs 7% earlier. The three year MCLR is now at 7.4% vs 7.3%.