The country's largest lender State Bank of India has decided to increase its marginal cost of lending rate (MCLR) on loans by 10 basis points or 0.10 per cent effective from July 15, 2022.
For one year tenor, the bank has decided to increase MCLR to 7.50 per cent from the current 7.40 per cent, as per a notice released by State Bank of India on its website on Thursday.
For the six-month tenor, the MCLR will be increased from 7.35 per cent to 7.45 per cent.
The MCLR on two years tenor will be increased from 7.60 per cent to 7.70 per cent. On three years tenor, it will be increased from 7.7 per cent to 7.8 per cent.