Follow Us
Breaking News
- Angul youth held on the charge of rape
- Five killed in fresh violence in Manipur's Jiribam day after rocket attack in Bishnupur district
- NTPC Talcher Kaniha Receives 2024 Energy Management Insight Award from Clean Energy Ministerial
- Rajasthan: Under-construction two-storey building collapses, many feared trapped under debris
- Jharkhand cabinet to waive power dues of Rs 3,584 cr of 39.44 lakh consumers
Now SBI Loans To Be More Expensive As Interest Rates Hiked From Today
ByJagadananda Pradhan
NEW DELHI: The country's largest lender State Bank of India (SBI) has increased its benchmark marginal cost of lending rate (MCLR) from 0.05 percent to 0.10 percent from Monday. This move of the bank will also increase the interest rates of MCLR based loans.
NEW DELHI: The country's largest lender State Bank of India (SBI) has increased its benchmark marginal cost of lending rate (MCLR) from 0.05 percent to 0.10 percent from Monday. This move of the bank will also increase the interest rates of MCLR based loans.
According to reports,MCLR on one month loan has increased by 0.05 percent to 8.35 percent. On three month term loan, it is at 8.40 percent with an increase of 0.10 percent. Reports said, MCLR for six month, one year and two year loan has been increased by 0.10 percent to 8.75 percent, 8.85 percent and 8.95 percent respectively. MCLR for three year loan has increased by 0.05 percent and it will now be 9 percent.
Earlier in June also, SBI had increased MCLR by 0.10 percent. MCLR is the minimum interest rate below which the bank cannot give loan. Most corporate loans are based on MCLR while retail loans are based on repo rate.
Reserve Bank of India has not made any change in repo rate since February this year. Generally other banks follow SBI in terms of interest rates. Due to this, now the loans of other banks are also likely to become expensive.
Related Business News
NTPC Talcher Kaniha Receives 2024 Energy Management Insight Award from Clean Energy Ministerial
ANGUL:NTPC Talcher Kaniha has been honored with the prestigious 2024 Energy Management Insight Award from the Clean Energy Ministerial (CEM), a global forum comprising 29 member governments and 21 participating countries dedicated to advancing clean energy policies and technologies. The statio....
India's first grain ATM launched in Odisha
BHUBANESWAR: Odisha's Food Minister Krishna Chandra Patra launched a first ever it’s kind of Annapurti ATM on August 8 in the presence of Nozomi Hashimoto, Deputy Country Director of World Food Distribution Event in India.
RBI maintains GDP growth at 7.2 pc; cautions on global challenges
NEW DELHI:Maintaining its stance on projected economic growth at 7.2 per cent for the fiscal 2024-25, the Reserve Bank of India (RBI) on Thursday said domestic economic activity continues to be resilient, but spillovers from protracted geopolitical tensions, volatility in international financi....
Speakers extend full support two Washery Plant at Talcher
TALCHER:All the speakers at the public hearing meeting of the expansion project of K R Enterprising supported the upcoming project with some demands for employment,plantation and health services. K R Enterprising which is having 2.4 million tone per annum coal crushing and screening plan....
Apple posts record 2nd-quarter sales with gains in iPad
Apple posted record second-quarter sales, with strong gains for the iPad and services, according to its financial results statement released Thursday.
The US-based tech firm posted total net sales of almost $85.8 billion in its fiscal 2024 third quarter ended June 29, which corresponds t....
Top News
-
Angul youth held on the charge of rape -
Five killed in fresh violence in Manipur's Jiribam day after rocket attack in Bishnupur district -
Rajasthan: Under-construction two-storey building collapses, many feared trapped under debris -
PM Modi's 'billionaire Raj' is more unequal than British Raj : Jairam Ramesh -
Modi government has failed to curb crimes against women : Kharge -
Typhoon Shanshan makes landfall in Japan's Kagoshima -
3 militants killed in LoC near Kupwara in J&K -
Two Angul labourers died of suffocation in septic tank -
Cong MLA accuses BJP of Rs 100 cr bribery plot to topple Karnataka govt -
Gaza death toll crosses 40,300 as Israeli forces kill 69 more Palestinians -
Telegram founder Durov arrested at French airport -
Congress Leader Hits Back Mohan Majhi Over Kashmir,Mocks Him As Teleprompter CM -
Volcanic eruption begins in Iceland -
Harris accepts nomination for presidential nominee at DNC -
Venezuelan court validates presidential election results
Fast Mail Spotlight
© 2024 Fast Mail Media Pvt Ltd. All Rights Reserved.
Powered by : FM Media Pvt Ltd.
Developed by : Futuradept Tech