EMIs to pinch as State Bank hikes lending rate by 10 basis points across tenures
The State Bank of India (SBI) has increased its marginal cost of funds-based lending rate (MCLR) by 10 basis points (0.1%) across all tenures, effective June 15. This adjustment will result in higher EMIs for borrowers with loans linked to MCLR. The hike sees the one-year MCLR rise to 8.75% from 8.65%, the overnight MCLR … Read more