SBI Loan Interest Rates: There is news of work for the customers of the country’s largest public sector bank i.e. State Bank of India. If you have taken any loan from your State Bank, then now you are going to get a big shock. State Bank has decided to increase the interest rates of its loan (State Bank Loan Rate Hike). The bank has decided to increase its Marginal Cost of Lending Rates by 0.25 percent. This increase is being done on the interest rates of all periods. After the increase in this MCLR, the customer will have to pay a higher interest rate on EMI (SBI MCLR Hike).
According to the information given on the official website of the bank, the new interest rate has come into effect from 15 December 2022 i.e. Thursday. The bank has increased its interest rates after the increase in the repo rate of the Reserve Bank by 35 basis points. At present, the RBI repo rate has reached 6.25 percent. Let us know what is the new MCLR on different tenures of State Bank-
Know about the new MCLR of SBI-
According to the State Bank website, the MCLR for a one-day loan has increased from 7.60 per cent to 7.85 per cent. At the same time, the MCLR for another three months has increased from 7.75 percent to 8 percent. On the other hand, if we talk about the bank’s 6 months and 1 year MCLR, it has increased from 8.05 percent to 8.30 percent. The 2-year MCLR has increased from 8.25 per cent to 8.50 per cent. SBI’s 3-year MCLR has increased from 8.35 per cent to 8.50 per cent.
SBI also increased its FD rates-
The country’s largest government bank State Bank has also increased its FD interest rates (SBI Hike FD Rates) recently. The new rates of the bank have come into effect on 13 December 2022. The bank is offering up to 3.00 percent interest rate on FDs of 7 to 45 days to its ordinary citizens. At the same time, the bank is offering 4.50 percent interest rate on FDs of 46 to 179 days, 5.25 percent interest rate on FDs of 180 to 210 days, 5.75 percent interest rate on FDs of 211 to 1 year, while SBI is offering 1 to 2 years. The bank is offering 6.60 per cent interest rate on FDs, 6.75 per cent interest rate on FDs of 2 to 3 years, 6.25 per cent interest rate on FDs of 3 to 5 years and 6.25 per cent interest rate on FDs of 5 to 10 years. Is.
SBI hikes MCLR and FD rates after RBI hikes repo rate
Let us tell you that the Reserve Bank had increased its repo rate (RBI Repo Rate) for the fifth consecutive time on December 8, 2022. The bank has increased the repo rate by 35 basis points on that day. Since then, it was being speculated that government to private banks would increase the interest rates on their loans and FDs.