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State Bank Of India Cuts Lending Rate By 0.9% Across Maturities
SBI had cut its lending rates after experiencing a surge in deposits 3-year loan rates will now be 8.15 per cent from 9.05 per cent previously MCLR fell to 7.75 per cent from 8.65 per cent
01 Jan 2017, 02:20 PM IST 
SBI had cut its lending rates for maturities ranging from overnight to three-year tenures.
Mumbai: State Bank of India, the country's biggest lender by assets, said on Sunday it had cut its lending rates by 90 basis points for maturities ranging from overnight to three-year tenures, after experiencing a surge in deposits.
After the move, its so-called overnight marginal cost of funds-based lending rate (MCLR) fell to 7.75 per cent from 8.65 per cent, while three-year loan rates will now be 8.15 per cent from 9.05 per cent...
