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SBI cuts base rate by 15 bps, keeps MCLR unchanged

SBI cuts base rate by 15 bps, keeps MCLR unchanged

Monday, April 3, 2017, 3:34 PM

In a bonanza to its old customers, the country’s largest lender State Bank of India cut its base rate steeply by 15 basis points to 9.1%. The new rates are effective from April 1st. According to estimates, only 30-40% of total floating rate loans are linked to MCLR while the rest are still linked to the base rate.
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