SBI Home Loan Rate: The country’s largest public sector bank, State Bank of India, has shocked crores of customers. SBI has increased the MCLR today. MCLR is the rate below which the bank cannot give loan to the customer at a lower interest rate. That is, the EMI of customers’ car and home loan will increase by this much
SBI Home Loan Rate: The country’s largest public sector bank, State Bank of India (SBI), has shocked crores of customers. SBI has increased the MCLR loan rates today. MCLR is the rate below which the bank cannot give loan to the customer at a lower interest rate. SBI Bank has increased the MCLR rate by 0.10 percent. The new revised rates of MCLR have come into effect from today, 15 July 2024.
Now this will be the MCLR rate
Now SBI’s base landing rate MCLR is now from 8.10 to 9 percent. The overnight MCLR rate has become 8.20 percent. SBI has increased the MCLR rate from 0.05 percent to 0.10 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.
MCLR
| Period | Current MCLR (in %) | Revised MCLR (in %) |
|---|---|---|
| Overnight | 8.10 | 8.10 |
| one month | 8.30 | 8.35 |
| Three Months | 8.30 | 8.40 |
| Six Months | 8.65 | 8.75 |
| one year | 8.75 | 8.85 |
| 2 years | 8.85 | 8.95 |
| 3 year | 8.95 | 9 |
(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 percent; For senior citizens – 6.50 percent
- 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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