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State Bank of India has decided to increase its marginal cost of funds-based lending rate (MCLR) by 10-15 basis points across most tenors with effect from November 15.
The one-month and three-months MCLR will be revised up by 15 basis points each to 7.75 per cent each (from 7.60 per cent each now).
The six months and one-year MCLR are up by 15 basis points (to 8.05 per cent) and 10 basis points (to 8.05 per cent), respectively.
The two-years and three-years MCLR are up by 10 basis points each to 8.25 per cent and 8.35 per cent, respectively.
The overnight MCLR remains unchanged at 7.60 per cent.
The share of MCLR linked loans -- which is an internal benchmark – of scheduled commercial banks came down to 46.5 per cent in June 2022 from 48.6 per cent as at March-end 2022, per RBI data.
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