SBI, ICICI hikes lending rates by up to 0.2 per cent

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By Accommodation Times Bureau


The marginal cost of funds-based lending rate (MCLR) has been increased by the country’s largest lender, State Bank of India (SBI) by 20 basis points across all tenors up to three years coming in effect from September 1, 2018. Now SBI’s overnight and one-month tenors’ MCLR is standing at 8.1 per cent according to SBI’s website.

Earlier the MCLR for one-year tenor was 8.25% and increased to 8.45 %. Most of the retail loans are idealized against one-year MCLR.

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