State Bank of India MCLR Rates: The bank is going to make a special change from tomorrow i.e. from July 15, which will directly affect the pockets of bank customers. If yState Bank of India MCLR Rates: The bank is going to make a special change from tomorrow i.e. from July 15, which will directly affect the pockets of bank customers. If you have also taken a loan, then your EMI (SBI EMI) will increase.
State Bank of India: The country’s largest government bank SBI (SBI) has given a big blow to crores of customers. The bank is going to make a special change from tomorrow i.e. from July 15, which will directly affect the pockets of bank customers. If you have also taken a loan, then your EMI (SBI EMI) will increase. The bank has given information about this in its official website.
There will be an increase of 0.05 percent
Let us tell you that the bank has increased the rates of MCLR. According to the information received from the bank on Friday, the rates of MCLR (Marginal Cost of Funds Based Lending Rate) have increased by 0.05 percent. With this decision of the bank, the interest rates of the loan will also increase.
Will be applicable from July 15
The bank has told that the new rates have come into force from July 15. The bank has told that at present the rate of overnight MCLR is 8 percent. At the same time, its rate is 8.15 percent in a month. Apart from this, the rate for 3 months is 8.15 percent.
What is the interest rate for 2 and 3 years,
the bank has told that the rate for 6 months is 8.45 percent and the rate for one year is 8.55 percent. At the same time, the rate of 2 years is 8.65 percent and the rate of 3 years MCL is 8.75 percent.
What is MCLR?
Marginal Cost of Funds Based Lending Rates ie MCLR is a minimum interest on which banks offer loans to customers. Reserve Bank of India introduced MCLR in the year 2016. The MCLR rate is determined by the banks. It is mandatory for banks to declare their overnight, one month, three months, six months, one year and two year MCLR every month.
Let us tell you that whenever a bank increases
the MCLR, then the interest rates of loans related to it like home loan, vehicle loan also increase.
