State Bank of India cuts loan rates by marginal 5 bps
Business / State Bank of India cuts loan rates by marginal 5 bps
Business - State Bank of India cuts loan rates by marginal 5 bps
State Bank Tuesday followed its smaller peers to lower the lending rates by a nominal 5 basis points across all tenors. The new one-year marginal cost of funds-based lending rate (MCLR) is down to 8.50 percent now from 8.55 percent earlier, the bank said in a statement. The bank has also re-priced home loans up to Rs 30 lakh by 10 bps. SBI is the third state-run lender to lower the lending rates.