SBI hikes MCLR, Loan Interest Rate: State Bank of India (SBI), the country’s largest lender, has increased its marginal cost of funds based lending rate (MCLR) by 10 basis points. The revised rates will be effective from today, August 14, the public sector bank updated on its website.

New Rates

SBI has raised its overnight MCLR from 8.10 per cent to 8.20 per cent. The monthly MCLR has increased from 8.35 per cent to 8.45 per cent. The 3-month MCLR has also gone up by 10 basis points, from 8.40 per cent to 8.50 per cent.