SBI has reduced the interest rate of this short term loan by 25 bps; Check latest lending rates of State Bank of India

New Delhi: State Bank of India (SBI) has announced the latest marginal cost-based lending rate (MCLR) on loans from October 15 to November 15, 2024. SBI has reduced the MCLR tenor interest rate by 25 basis points (bps) while keeping other rates unchanged. The revised MCLR will be effective from October 15, 2024.

Latest SBI MCLR Loan Interest Rates October 2024

MCLR based rates have been adjusted in the range of 8.20% to 9.1%. The overnight MCLR is 8.20%, while the rate for one month tenure has been reduced from 8.45% to 8.20%, a decline of 25 bps. The six-month MCLR is pegged at 8.85%. One year MCLR has been revised to 8.95%. The two-year MCLR is 9.05% and the three-year MCLR is 9.1%.