SBI Home Loan Rate: SBI has reduced MCLR loan rates today, know how much EMI will be reduced?

SBI Home Loan Rate: The country’s largest public sector bank, State Bank of India (SBI), has given good news to crores of customers before Diwali. SBI has reduced MCLR loan rates today. The bank has reduced MCLR by 0.25 per cent for one month. MCLR is the rate below which the bank cannot give loan to the customer at a lower interest rate.

SBI Home Loan Rate: The country’s largest public sector bank, State Bank of India (SBI), has given good news to crores of customers before Diwali. SBI has reduced MCLR loan rates today. The bank has reduced MCLR by 0.25 per cent for one month. MCLR is the rate below which the bank cannot give loan to the customer at a lower interest rate. The new revised rates of MCLR have come into effect from today, 15 October 2024.

Now this will be the MCLR rate

Now SBI’s base landing rate MCLR is now from 8.20 to 9.10 percent. The overnight MCLR rate is 8.20 percent only. SBI has reduced the one month MCLR by 0.25 percent. Earlier it was 8.45 percent which has been reduced to 8.20 percent. MCLR has a direct impact on the EMI of your home and car loan. With the increase in MCLR rates, the new loan becomes expensive. Also, the EMI of your home and car loan increases.

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MCLR

(Source – SBI Bank website.)

State Bank of India (SBI) FD Rates

• 7 days to 45 days: For general public – 3.50 percent; For senior citizens – 4 percent
• 46 days to 179 days: For general public – 5.50 percent; For senior citizens – 6 percent
• 180 days to 210 days: For general public – 6 per cent; For senior citizens – 6.50 per cent
• 211 days to less than 1 year: For general public – 6.25 per cent; For senior citizens – 6.75 per cent
• 1 year to less than 2 years: For general public – 6.80 percent; For senior citizens – 7.30 percent
• 2 years to less than 3 years: For general public – 7.00%; For senior citizens – 7.50%
• 3 years to less than 5 years: For general public – 6.75%; For senior citizens – 7.25%
• 5 years to 10 years: For general public – 6.50 per cent; For senior citizens – 7.50 per cent.

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