SBI lowers rates on non-repo-linked loans

State Bank of India (SBI) announced reduction in its marginal cost of fund based lending (MCLR) rate by 10 basis points across all tenors, effective 10 October. This is the sixth time that the country’s largest lender has cut its MCLR or minimum lending rate in the current financial year. The rate reduction is not applicable to the repo-linked loans. Continue Reading

SBI reduces MCLR and interest rates

“In view of the falling interest rate scenario and surplus liquidity, SBI also realigns its interest rate on term deposits from September 10,” it said in a statement. Continue Reading

Union Bank cuts marginal cost of funds-based lending rate

State-run Union Bank of India on Saturday announced reduction in its marginal cost of funds- based lending rate (MCLR) by up to 15 basis points across various tenors, effective from today, 1 September. Continue Reading