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State Bank of India cuts base rate by 15 bps with effect from April 1

Marginal cost-based lending rate of the SBI remains unchanged

SBI, State Bank of India, state bank, bank

IANS Mumbai

Bringing cheer to customers who have raised loans prior to April 1, 2016, the largest public lender State Bank of India (SBI) cut its base rate by 15 basis points (bps) to 9.10 per cent with effect from April 1, 2017.

Earlier, the base rate stood at 9.25 per cent.

The marginal cost-based lending rate (MCLR) of the SBI, however, remains unchanged. The six-month MCLR rate is at 7.95 per cent while the three-year rate stands at 8.15 per cent.

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First Published: Apr 03 2017 | 4:52 PM IST

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