Bank of india

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With effect from January 15, 2023, the State Bank of India (SBI) has increased the marginal cost of funds-based lending rate (MCLR) for home loans with a one-year term by 10 basis points. The MCLR is the lowest interest rate that the bank will allow for lending.According to the SBI notification, the MCLR for a one-year tenure will increase from 8.30% to 8.4% with effect from January 15 while remaining the same for other tenures.What is MCLR? BCCL/Representational ImageThe financial institution's

With effect from January 15, 2023, the State Bank of India (SBI) has increased the marginal cost of funds-based lending rate (MCLR) for home loans with a one-year term by 10 basis points. The MCLR is the lowest interest rate that the bank will allow for lending.According to the SBI notification, the MCLR for a one-year tenure will increase from 8.30% to 8.4% with effect from January 15 while remaining the same for other tenures.What is MCLR? BCCL/Representational ImageThe financial…

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