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Retail loan News

09 Oct 2019

SBI cuts lending rates by 10 bps, retail loans to get cheaper

The State Bank of India (SBI) on Wednesday announced lowering its marginal cost of funds based lending rate (MCLR) by 10 basis points across all tenors to 8.05 per cent from October 10. The MCLR cut will make home and other retail loans cheaper for the existing borrowers.

Reserve Bank of India

05 Sep 2019

External benchmark for floating rate loans from October 1

The Reserve Bank of India has been long examining the feasibility of mandating the use of external benchmark for determining interest rate on floating rate loans.

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