SBI sets EBLR 8.15% and RLLR 7.75% from October 15
Business
SBI has bumped up its lending rates after the RBI's recent repo rate hike, which means your loan EMIs could go up.
From October 15, the bank's EBLR is set at 8.15% and RLLR at 7.75%, so if you have a loan linked to these, expect your monthly payments to increase.
SBI raises MCLR for multiple tenures
SBI also tweaked its MCLR (that's another way banks set interest rates) for some tenures: three-month MCLR is now 8.40%, six-month is 8.75%, and one-year is 8.85%.
Two- and three-year MCLRs are up to 8.90% and 8.95%.
If you've got an SBI loan, it's a good time to check your agreement: how much your EMI changes depends on your loan type and reset schedule.