New Delhi: State Bank of India has slashed marginal cost of fund-based lending rate (MCLR) by up to 15 basis points for various tenors.
The overnight and one month MCLRs have been cut by 15 basis points to 7.45 percent. The three month MCLR has been cut to 7.50 percent. It was 7.65 percent earlier, the bank said in a statement.
The bank has cut the one year MCLR by 10 basis points to 7.75 percent. It was 7.85 percent earlier.
The two year MCLR has been reduced to 7.95 percent. The three year MCLR has been slashed to 8.05 percent.
Then new arte effective from 10 March, 2020.
This is 10th consecutive reduction in MCLR by SBI in the ongoing financial year. SBI has cut the MCLR by 5 basis points in 10 February, 2020 also.