SBI hikes MCLR by up to 10 bps, customer loans likely to become costlier

Quick Summary:

The one -year median MCLR of commercial banks in India increased by 175 bps during May 2022 to May 2024.

There is still a room left for increasing MCLR by about 10 basis points.

The net interest margins (NIMs) in domestic operations declined from 3.58 per cent in March 2023 to 3.43 per cent in March 2024.

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Article Details

Category: BusinessFinance

Markets: India

Topics: External benchmark lending State bank of india SBI loan State bank of India MCLR SBI customer loans State Bank of India loan rates SBI car loan SBI home loan SBI loan interest rate MCLR hike SBI MCLR

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 13:41:31 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 354 words

Reading Time: 2 minutes read

Sentences: 18 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21623745

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