SBI cuts MCLR rates: Check new home loan interest rates

Business Aug 15, 2025

SBI just lowered its MCLR (that's the rate banks use to set loan interest) by up to 5 basis points starting August 15, 2025.
This follows the RBI's decision to keep its main rate steady this month.
Now, SBI's MCLR ranges from 7.90% to 8.85%, which means borrowing just got a little less expensive.

What about home loan rates?

If you're eyeing an SBI home loan or already have one, good news: interest rates now start at 7.50% and go up to 8.70%.
Other big banks like Bank of Baroda and HDFC Bank have also trimmed their rates in August, so it looks like getting a loan is becoming more affordable across the board right now.