SBI Loan: State Bank of India has increased its MCLR and base rate. According to SBI website, the new rates are effective from 15th December 2023 i.e. today. The bank has increased its base rate.
SBI loan has become expensive from today. State Bank of India has increased its MCLR and base rate. According to SBI website, the new rates are effective from 15th December 2023 i.e. today. Let us tell you that MCLR is the minimum interest rate at which a bank can give loan to a customer. Now taking loan from SBI has become expensive.
State Bank has increased its base rate from earlier 10.10 percent to 10.25 percent. Latest SBI MCLR MCLR-based rates for December 2023 will now be between 8 per cent and 8.85 per cent. The overnight MCLR rate is 8 percent, while the MCLR rate for one month and three months has increased from 8.15 percent to 8.20 percent.
Six-month MCLR has been increased by 10 bps to 8.55 percent. The one-year MCLR, which is linked to many consumer loans, has now increased by 10 bps from 8.55 per cent to 8.65 per cent. MCLR for two-year and three-year tenures has been increased by 10 bps to 8.75 per cent and 8.85 per cent respectively. Benchmark Prime Lending Rate (BPLR) The Benchmark Prime Lending Rate (BPLR) has increased by 25 bps from 14.85 per cent to 15.00 per cent per annum, effective December 15, 2023.
Home loan discount till 31st December 2023
During its special festive campaign offer, State Bank of India (SBI) offers attractive discounts of up to 65 basis points on home loan interest rates. This concession is applicable on Regular Home Loan, Flexipay, NRI, Salaried, Privilege. This discount on home loan is till 31 December 2023. However, the bank is offering home loans at 8.4 percent annual interest rates. Discounts are also available on top-up house loans. Under the special campaign, interest rates on SBI top-up house loan start from 8.9 percent per annum.
