New Delhi/UNI: Country’s largest lender State Bank of India (SBI) on Friday announced the reduction in its MCLR by 5 bps across all tenors.
The one year MCLR comes down to 8.0% p.a from 8.05% p.a. with effect from 10th November 2019.
This is the seventh consecutive cut in MCLR in FY 2019-20.
In view of adequate liquidity in the system, SBI revises its interest rates on Term Deposits w.e.f. 10th Nov’ 2019-- Retail TD interest rate reduced by 15bps for ‘1 Year to less than 2 years’ tenor, Bulk TD interest rates reduced by 30 to 75 bps across tenors.
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