SBI hikes lending rates by 10 basis points – Times of India

New Delhi: The country’s largest lender state Bank of India It has decided to increase its marginal cost lending rate (MCLR) on loans by 10 basis points or 0.10 per cent with effect from July 15, 2022.
For a tenure of one year, the bank has decided to increase the MCLR to 7.50 per cent from the existing 7.40 per cent, according to a notice issued by the State Bank of India on its website on Thursday.
MCLR will be increased from 7.35 per cent to 7.45 per cent for a period of six months.
The MCLR will be increased from 7.60 per cent to 7.70 per cent over a period of two years. It will be increased from 7.7 per cent to 7.8 per cent over a period of three years.