State Bank of India has reduced its One Year MCLR Base Rate or the minimum lending rate by 0.25%, or 25 basis points with effect from Wednesday, June 10, 2020. State Bank of India has revised its One Year MCLR Base Rate from 7.25 percent to 7.00 percent per annum.
New Delhi (Delhi, India), July 18, 2020
The State Bank of India (SBI) has reduced its benchmark MCLR (Marginal Cost of Funds based Lending Rate) Base Rate for new loans by 0.25 percent, or 25 basis points (BPS) with effect from Wednesday, June 10, 2020.
State Bank of India has revised its One Year MCLR Base Rate or the minimum lending rate from 7.25 percent to 7.00 percent per annum.
State Bank of India’s new MCLR Base Rate will be applicable for all new loans and the existing loans that may come up for renewal.
State Bank of India applies the interest rates on all new loans and advances with reference to MCLR based rates from April 01, 2016 onwards.
The Reserve Bank of India (RBI) has asked all banks to set at least five MCLR based benchmark lending rates – Overnight MCLR, One Month MCLR, Three Month MCLR, Six Month MCLR, and One Year MCLR. The loans linked with MCLR will be reset for a maximum of one year tenure.
State Bank of India’s MCLR Base Rate effective from July 10, 2020 is:
Overnight MCLR: 6.65%
One Month MCLR: 6.65%
Three Month MCLR: 6.65%
Six Month MCLR: 6.95%
One Year MCLR: 7.00%
Two Year MCLR: 7.20%
Three Year MCLR: 7.30%
State Bank of India’s MCLR Base Rate effective from June 10, 2020 was:
Overnight MCLR: 6.70%
One Month MCLR: 6.70%
Three Month MCLR: 6.75%
Six Month MCLR: 6.95%
One Year MCLR: 7.00%
Two Year MCLR: 7.20%
Three Year MCLR: 7.30%
State Bank of India’s MCLR Base Rate effective from May 10, 2020 was:
Overnight MCLR: 6.95%
One Month MCLR: 6.95%
Three Month MCLR: 7.00%
Six Month MCLR: 7.20%
One Year MCLR: 7.25%
Two Year MCLR: 7.45%
Three Year MCLR: 7.55%
State Bank of India’s MCLR Base Rate effective from April 10, 2020 was:
Overnight MCLR: 7.10%
One Month MCLR: 7.10%
Three Month MCLR: 7.15%
Six Month MCLR: 7.35%
One Year MCLR: 7.40%
Two Year MCLR: 7.60%
Three Year MCLR: 7.70%
State Bank of India’s MCLR Base Rate effective from March 10, 2020 was:
Overnight MCLR: 7.45%
One Month MCLR: 7.45%
Three Month MCLR: 7.50%
Six Month MCLR: 7.70%
One Year MCLR: 7.75%
Two Year MCLR: 7.95%
Three Year MCLR: 8.05%
State Bank of India’s MCLR Base Rate effective from February 10, 2020 was:
Overnight MCLR: 7.60%
One Month MCLR: 7.60%
Three Month MCLR: 7.65%
Six Month MCLR: 7.80%
One Year MCLR: 7.85%
Two Year MCLR: 8.05%
Three Year MCLR: 8.15%
State Bank of India’s MCLR Base Rate effective from December 10, 2019 was:
Overnight MCLR: 7.65%
One Month MCLR: 7.65%
Three Month MCLR: 7.70%
Six Month MCLR: 7.85%
One Year MCLR: 7.90%
Two Year MCLR: 8.10%
Three Year MCLR: 8.20%
State Bank of India’s MCLR Base Rate effective from November 10, 2019 was:
Overnight MCLR: 7.65%
One Month MCLR: 7.65%
Three Month MCLR: 7.70%
Six Month MCLR: 7.85%
One Year MCLR: 8.00%
Two Year MCLR: 8.10%
Three Year MCLR: 8.20%
State Bank of India’s MCLR Base Rate effective from October 10, 2019 was:
Overnight MCLR: 7.70%
One Month MCLR: 7.70%
Three Month MCLR: 7.75%
Six Month MCLR: 7.90%
One Year MCLR: 8.05%
Two Year MCLR: 8.15%
Three Year MCLR: 8.25%
State Bank of India’s MCLR Base Rate effective from September 10, 2019 was:
Overnight MCLR: 7.80%
One Month MCLR: 7.80%
Three Month MCLR: 7.85%
Six Month MCLR: 8.00%
One Year MCLR: 8.15%
Two Year MCLR: 8.25%
Three Year MCLR: 8.35%
State Bank of India’s MCLR Base Rate effective from August 10, 2019 was:
Overnight MCLR: 7.90%
One Month MCLR: 7.90%
Three Month MCLR: 7.95%
Six Month MCLR: 8.10%
One Year MCLR: 8.25%
Two Year MCLR: 8.35%
Three Year MCLR: 8.45%
State Bank of India’s MCLR Base Rate effective from July 10, 2019 was:
Overnight MCLR: 8.05%
One Month MCLR: 8.05%
Three Month MCLR: 8.10%
Six Month MCLR: 8.25%
One Year MCLR: 8.40%
Two Year MCLR: 8.50%
Three Year MCLR: 8.60%
State Bank of India’s MCLR Base Rate effective from May 10, 2019 was:
Overnight MCLR: 8.10%
One Month MCLR: 8.10%
Three Month MCLR: 8.15%
Six Month MCLR: 8.30%
One Year MCLR: 8.45%
Two Year MCLR: 8.55%
Three Year MCLR: 8.65%
State Bank of India’s MCLR Base Rate effective from April 10, 2019 was:
Overnight MCLR: 8.15%
One Month MCLR: 8.15%
Three Month MCLR: 8.20%
Six Month MCLR: 8.35%
One Year MCLR: 8.50%
Two Year MCLR: 8.60%
Three Year MCLR: 8.70%
State Bank of India’s MCLR Base Rate effective from March 10, 2019 was:
Overnight MCLR: 8.20%
One Month MCLR: 8.20%
Three Month MCLR: 8.25%
Six Month MCLR: 8.40%
One Year MCLR: 8.55%
Two Year MCLR: 8.65%
Three Year MCLR: 8.75%
State Bank of India’s MCLR Base Rate effective from December 10, 2018 was:
Overnight MCLR: 8.20%
One Month MCLR: 8.20%
Three Month MCLR: 8.25%
Six Month MCLR: 8.40%
One Year MCLR: 8.55%
Two Year MCLR: 8.65%
Three Year MCLR: 8.75%
State Bank of India’s MCLR Base Rate effective from October 01, 2018 was:
Overnight MCLR: 8.15%
One Month MCLR: 8.15%
Three Month MCLR: 8.20%
Six Month MCLR: 8.35%
One Year MCLR: 8.50%
Two Year MCLR: 8.60%
Three Year MCLR: 8.70%
State Bank of India’s MCLR Base Rate effective from September 01, 2018 was:
Overnight MCLR: 8.10%
One Month MCLR: 8.10%
Three Month MCLR: 8.15%
Six Month MCLR: 8.30%
One Year MCLR: 8.45%
Two Year MCLR: 8.55%
Three Year MCLR: 8.65%
State Bank of India’s MCLR Base Rate effective from June 01, 2018 was:
Overnight MCLR: 7.90%
One Month MCLR: 7.90%
Three Month MCLR: 7.95%
Six Month MCLR: 8.10%
One Year MCLR: 8.25%
Two Year MCLR: 8.35%
Three Year MCLR: 8.45%
State Bank of India’s MCLR Base Rate effective from March 01, 2018 was:
Overnight MCLR: 7.80%
One Month MCLR: 7.80%
Three Month MCLR: 7.85%
Six Month MCLR: 8.00%
One Year MCLR: 8.15%
Two Year MCLR: 8.25%
Three Year MCLR: 8.35%
State Bank of India’s MCLR Base Rate effective from November 01, 2017 was:
Overnight MCLR: 7.70%
One Month MCLR: 7.80%
Three Month MCLR: 7.85%
Six Month MCLR: 7.90%
One Year MCLR: 7.95%
Two Year MCLR: 8.05%
Three Year MCLR: 8.10%
State Bank of India’s MCLR Base Rate effective from September 01, 2017 was:
Overnight MCLR: 7.75%
One Month MCLR: 7.85%
Three Month MCLR: 7.90%
Six Month MCLR: 7.95%
One Year MCLR: 8.00%
Two Year MCLR: 8.10%
Three Year MCLR: 8.15%
State Bank of India’s MCLR Base Rate effective from January 01, 2017 was:
Overnight MCLR: 7.75%
One Month MCLR: 7.85%
Three Month MCLR: 7.90%
Six Month MCLR: 7.95%
One Year MCLR: 8.00%
Two Year MCLR: 8.10%
Three Year MCLR: 8.15%
State Bank of India’s MCLR Base Rate effective from November 01, 2016 was:
Overnight MCLR: 8.65%
One Month MCLR: 8.75%
Three Month MCLR: 8.80%
Six Month MCLR: 8.85%
One Year MCLR: 8.90%
Two Year MCLR: 9.00%
Three Year MCLR: 9.05%
State Bank of India’s MCLR Base Rate effective from August 01, 2016 was:
Overnight MCLR: 8.85%
One Month MCLR: 8.95%
Three Month MCLR: 9.00%
Six Month MCLR: 9.05%
One Year MCLR: 9.10%
Two Year MCLR: 9.20%
Three Year MCLR: 9.25%
State Bank of India’s MCLR Base Rate effective from May 01, 2016 was:
Overnight MCLR: 8.90%
One Month MCLR: 9.00%
Three Month MCLR: 9.05%
Six Month MCLR: 9.10%
One Year MCLR: 9.15%
Two Year MCLR: 9.25%
Three Year MCLR: 9.30%
State Bank of India’s MCLR Base Rate effective from April 01, 2016 was:
Overnight MCLR: 8.95%
One Month MCLR: 9.05%
Three Month MCLR: 9.10%
Six Month MCLR: 9.15%
One Year MCLR: 9.20%
Two Year MCLR: 9.30%
Three Year MCLR: 9.35%
The State Bank of India has also reduced its External Benchmark Based Rate (EBR) by 0.40 percent, or 40 basis points (BPS) with effect from Wednesday, July 01, 2020.
State Bank of India has revised its External Benchmark Based Rate from 7.05 percent to 6.65 percent per annum.
State Bank of India has linked its External Benchmark Based Rate to Reserve Bank of India’s Current Repo Rate plus 265 basis points. Reserve Bank of India’s present Policy Repo Rate is 4.00 percent per annum with effect from Friday, May 22, 2020.
July 01, 2020 EBR: 6.65%
April 01, 2020 EBR: 7.05%
January 01, 2020 EBR: 7.80%
The State Bank of India has also lowered its Base Rate (BR) for old loans by 0.75 percent, or 75 basis points (BPS) with effect from Wednesday, June 10, 2020.
State Bank of India has revised its Base Rate or the minimum lending rate from 8.15 percent to 7.40 percent per annum.
State Bank of India decides its interest rates on all loans and advances lent until March 31, 2016 with reference to Base Rate from July 01, 2010 onwards.
June 10, 2020 Base Rate: 7.40%
March 10, 2020 Base Rate: 8.15%
December 16, 2019 Base Rate: 8.45%
September 10, 2019 Base Rate: 8.95%
December 01, 2018 Base Rate: 9.05%
October 01, 2018 Base Rate: 9.00%
July 01, 2018 Base Rate: 8.95%
April 01, 2018 Base Rate: 8.70%
January 01, 2018 Base Rate: 8.65%
October 01, 2017 Base Rate: 8.95%
July 01, 2017 Base Rate: 9.00%
April 01, 2017 Base Rate: 9.10%
January 01, 2017 Base Rate: 9.25%
October 05, 2015 Base Rate: 9.30%
June 08, 2015 Base Rate: 9.70%
April 10, 2015 Base Rate: 9.85%
November 07, 2013 Base Rate: 10.00%
September 19, 2013 Base Rate: 9.80%
February 04, 2013 Base Rate: 9.70%
September 20, 2012 Base Rate: 9.75%
August 13, 2011 Base Rate: 10.00%
July 11, 2011 Base Rate: 9.50%
May 12, 2011 Base Rate: 9.25%
April 25, 2011 Base Rate: 8.50%
February 14, 2011 Base Rate: 8.25%
January 03, 2011 Base Rate: 8.00%
October 21, 2010 Base Rate: 7.60%
July 01, 2010 Base Rate: 7.50%