Home / Business / SBI Again Cuts Lending Rates By 10 Basis Points

SBI Again Cuts Lending Rates By 10 Basis Points

Image : Representational Purpose Only
Image : Representational Purpose Only

Public sector lender State Bank of India have announced yet another reduction in lending rates by 10 basis points across tenors.

The new rates are effective Tuesday, the lender said announcing the third rate reduction in the current fiscal year.

One year MCLR, to which all the retail lending rates are linked to, has been reduced to 8.15 percent from 8.25 percent earlier.

It also slashed retail term deposit rates by 20-25 bps and bulk term deposit rates by 10-20 bps across tenors, effective Tuesday.

The lender attributed the falling interest rate scenario and surplus liquidity for realigning its interest rate on term deposits.

About Impactnews Desk

Check Also

Image : Representational Purpose Only

Embattled Jet Airways Fails To Attract New Bidders During Extended Deadline Period

Grounded Jet Airways, which is undergoing insolvency proceedings, failed to attract any new bidders during …

Leave a Reply

Your email address will not be published. Required fields are marked *