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SBI has increased marginal cost-based lending rates (MCLR) by 10-25 basis points across most maturities, with immediate effect.
As per a notification on SBI website, it has raised the key 1-year MCLR from 7.95% to 8.15%. For the 2 and 3 year term, the rates were hiked to 8.25% (from 8.05%) and 8.35% (from 8.10%) respectively.
Furthermore, rates on overnight and 6 month maturities were hiked by 10 bps to 7.80% and 8.00%.
