SBI MCLR from December 15, 2024: Check latest SBI MCLR, base rate here
Latest SBI MCLR loan interest rates December 2024
SBI has kept the lending rates unchanged on all tenures. SBI overnight and one-month MCLR is at 8.20%. The three-month MCLR stands at 8.55%. MCLR for six-month tenure is at 8.90%. The MCLR rate for one-year tenure which is typically linked to auto loans is 9%. The MCLR for the two- and three-year tenure is 9.05% and 9.10% respectively.
What is MCLR?
The lowest lending rate a bank is allowed to lend below is known as the Marginal Cost of funds-based Lending Rate (MCLR).
What is EMI?
EMI stands for Equated Monthly Instalments. This instalment comprises both principal and interest components.
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