SBI Hikes Key Lending Rates With Immediate Effect

India’s largest public sectoor bank sbi has increased its base rate and prime lending rate slightly to 10% higher than the existing lending rate.

This hike comes into effect from December 15th and the approved lending rates would be 7.55% for base rate and 12.30% for prime lending rate with immediate effect.

At the same time SBI kept MCLR(Marginal Cost Lending Rate) unchanged .This brings somewhat relief to the borrowers on bearing interest rates hike on SBI loans.

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