 "SBI to link saving deposits, loan pricing to repo rate from May 1")
State Bank of India will reduce the interest rate by 25 basis points on cash credit and overdraft facilities with a balance over Rs 1 lakh from May 1. This comes after the Reserve Bank of India’s decision to cut the repo rate by 25 basis points (bps) to 6 per cent. The revised rate will be 8.25 per cent.
The reduction in the marginal cost of funds based lending rate (MCLR) is likely to be 8-10 basis points, depending on the tenor of loans, a senior SBI executive said.
The bank will also cut the rate on
The reduction in the marginal cost of funds based lending rate (MCLR) is likely to be 8-10 basis points, depending on the tenor of loans, a senior SBI executive said.
The bank will also cut the rate on
