This is the 14th consecutive reduction in the Bank’s MCLR
Country’s largest lender State Bank of India (SBI) on Wednesday announced reduction in its MCLR
by 5-10 basis points in the shorter tenors i.e. upto 3 months, with effect from July 10 2020, to boost credit off take and revive demand.
This is the 14th consecutive reduction in the Bank’s MCLR.
With this revision, SBI’s MCLR
upto 3 Months tenor comes down to 6.65% per annum, which is on par with the EBLR of SBI.
SBI’s MCLR continues to be the lowest in the market.