- SBI hiked marginal cost-based lending rates (MCLR) across most maturities, effective immediately.
- The last time the rates were raised was back in April 2016.
- This follows SBI’s announcement yesterday to increase FD rates.
- The rate increase will be from 0.15% to 0.75% depending on the duration and amount of deposit.
- This also means that people’s EMI for loans for home, vehicle, and others will also increase.
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