Diabytes
SBI lending rate cut News
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The State Bank of India (SBI) on Wednesday announced lowering its marginal cost of funds based lending rate (MCLR) by 10 basis points across all tenors to 8.05 per cent from October 10. The MCLR cut will make home and other retail loans cheaper for the existing borrowers.
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SBI, which accounts for more than a fifth of India`s banking assets, will lower the 1-year MCLR to 7.95 percent from 8 percent.
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