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State Bank of India to cut base rate by 5 bps to 7.45%, also reduce PLR

Also, it has cut its prime lending rate by 5 bps to 12.20 per cent

SBI
State Bank of India
BS Reporter
1 min read Last Updated : Sep 15 2021 | 1:02 AM IST
Ahead of the festive season, the country’s largest lender, State Bank of India (SBI), has decided to cut its base lending rate by 5 basis points (bps) to 7.45 per cent, effective September 15.

Also, it has cut its prime lending rate by 5 bps to 12.20 per cent. Last week, private lender Kotak Mahindra Bank slashed its home loan rates by 15 bps to 6.5 per cent, one of the lowest rates among the banking industry.  

Topics :sbiBanking IndustryLending Rates