SBI cuts base rate by 15 basis points, with effect from April 1 | business-news | Hindustan Times
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SBI cuts base rate by 15 basis points, with effect from April 1

State Bank of India (SBI) cut its base rate by 15 basis points (bps) to 9.10% with effect from April 1, 2017.

business Updated: Apr 03, 2017 17:33 IST
State Bank of India (SBI) cut its base rate by 15 basis points (bps) to 9.10%  with effect from April 1, 2017.
State Bank of India (SBI) cut its base rate by 15 basis points (bps) to 9.10% with effect from April 1, 2017. (HT File Photo)

Bringing cheer to customers who have raised loans prior to April 1, 2016, the largest public lender State Bank of India (SBI) cut its base rate by 15 basis points (bps) to 9.10% with effect from April 1, 2017.

Earlier, the base rate stood at 9.25%.

The marginal cost-based lending rate (MCLR) of the SBI, however, remains unchanged. The six-month MCLR rate is at 7.95% t while the three-year rate stands at 8.15%.