SBI Lending Rates

SBI rate cut: The savings rate has been reduced to 2.75 per cent from 3 per cent

SBI also cut interest rates on retail term deposits by 20-50 bps. For bulk deposits, the cut was steeper, by 50-100 bps, due to huge liquidity in the system

The Reserve Bank of India cut interest rates for a fourth straight meeting in 2019

The MCLR for one year, a benchmark rate for most retail loans, increased to 8.45 per cent from 8.25 per cent earlier

SBI hiking of the MCLR makes it the first hike in the 1-year MCLR since the inception of a new lending rate system in April 2016