SBI cuts MCLR by 35 bps across all tenors

The country’s largest lender State Bank of India on Tuesday said it has cut the marginal cost of funds based lending rate (MCLR) by 35 basis points (bps) across all tenors from April 10. The one-year MCLR comes down to 7.40 per cent per annum from 7.75 per cent per with effect from April 10, 2020, it said in a statement.

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