SBI Loans Get Cheaper From Today As New Lending Rates Take Effect

State Bank of India's new key lending rates for home loans came into force on Sunday, May 10, bringing down the EMI burden for eligible borrowers. The country's largest lender by assets earlier this week announced a reduction of 15 basis points - or 0.15 percentage point - in its marginal cost of funds-based lending rate (MCLR) across tenors. With the latest revision, the one-year MCLR came down to 7.25 per cent from the existing 7.4...