 "SBI Latest MCLR Effective From Today, 15 March -- To Have Impact On Your Home And Personal Loan")
New Delhi: In what would have an impact on both home and personal loans, among others, State Bank of India (SBI) has announced its latest MCLR rates. The MCLR rates are effective from tomorrow 15 March 2025.
India's largest public sector SBI has announced its latest marginal cost of funds-based lending rate (MCLR) for March 15 and April 15, 2025 period. The bank has kept the lending rates unchanged on all tenures, according to the SBI website.
| Tenor | Existing MCLR (In %) | Revised MCLR (In %)* |
|---|---|---|
| Over night | 8.20 | 8.20 |
| One Month | 8.20 | 8.20 |
| Three Month | 8.55 | 8.55 |
| Six Month | 8.90 | 8.90 |
| One Year | 9.00 | 9.00 |
| Two Years | 9.05 | 9.05 |
| Three Years | 9.10 | 9.10 |
The MCLR is the lowest interest rate at which a bank can make a loan to a customer and hence MCLR rates have a direct impact on your home, personal and other loans.
Meanwhile, last year State Bank of India announced that the bank will offer online loan against mutual funds through Online Banking and YONO App.
"SBI, the country’s largest lender, is set to digitally empower customers and enhance convenience with the introduction of an online loan facility against mutual fund (MF) units through its Internet Banking (INB) and YONO App. This digital offering enables customers to avail loans from the comfort of their homes, offering a 100% paperless and digital process that is available 24x7," SBI said in a release.
The new loan facility is extended at attractive interest rates to mutual fund schemes of all Asset Management Companies (AMCs) registered with CAMS, said SBI.
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