According to the notice issued on the website of State Bank, the one-year MCLR rate has increased from 7.40 percent to 7.50 percent. Rates have been increased from 7.05 per cent to 7.15 per cent for overnight, one month and three months.
The MCLR for a period of six months has been increased from 7.35 per cent to 7.45 per cent, the two-year and three-year MCLR rates to 7.7 per cent and 7.8 per cent respectively.
Latest MCLR
Source: SBI Website
SBI has been gradually increasing its MCLR on loans from April 2022, i.e., ever since the RBI hiked the key rates. Earlier, SBI had increased the MCLR by 0.20 per cent with effect from June 15, 2022.
Last time SBI increased its external benchmark linked loan interest rates It was in June 2022. As per SBI website, effective June 15, 2022, the bank’s EBLR is 7.55% + CRP. RLLR is 7.15%+CRP.
However, risk premium will be charged on the basis of credit score. This means a borrower with a credit score above 800 will now pay a minimum rate of 7.55 per cent under a regular home loan.
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Latest SBI Home Loan Interest Rate
Other lenders that have raised MCLR recently include:
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