SBI Reduces Key Lending Rates, Home Loans To Get Cheaper

SBI or State Bank of India, the country's largest lender by assets, has reduced its benchmark lending rates by five basis points across all tenors. One basis point is equivalent to 0.01 per cent or 1/100th of a per cent. The marginal cost of fund-based lending rate, or the MCLR, will now stand at 8.40 per cent for the one-year tenor, down from 8.45 per cent, with effect from July 10, 2019, SBI said in a statement. This is SBI's third...