SBI hikes lending rates by 20 bps across all tenures up to 3 years

The MCLR for one year, a benchmark rate for most retail loans, increased to 8.45 per cent from 8.25 per cent earlier

Home loans are set to become costlier as the country's largest lender, State Bank of India (SBI), has raised its marginal cost of funds-based lending rate (MCLR), the floor rate at which banks lend.
 
The bank increased its lending rates by 20 basis points (bps) across all tenures up to three years.  SBI's lending rates range from 8.1 to 8.65 per cent as of Saturday, according to the bank's website. The lending rates previously were in the range of 7.9-8.45 per cent.
 
The MCLR for one year, a benchmark rate for most retail loans, increased to 8.45 per