The State Bank of India has increased the Marginal Cost of Lending Rate (MCLR) by ten base points.
This is followed by RBI’s new rule that replaces base rate with MCLR. As a result, now there is a ten base points increase in overnight, one month, three months, six months, one year, two years and three years MCLR.
Refer to the table below for the new rates.
This change in MCLR is effective from 15th April, 2022.
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