SBI hikes MCLR

SBI hikes MCLR

State Bank Of India raised 0.05%  on loan interests even before the RBI’ Bi-Monthly Monetary Policy meet.

As per ET NOW, SBI has raised one-year MCLR from 8.45% to 8.5%.  MCLR means The marginal cost of funds based lending rate (MCLR) which refers to the minimum interest rate of a bank below which it cannot lend.