Back
Home » Business
  •  
    Filmi Bollywood
    • WATCH: Riteish Deshmukh Shares Hilarious TikTok Video To Wish Bobby Deol Happy Birthday
    • Varun Dhawan Starrer Street Dancer 3D Creates Waves At The Box Office, Performs Incredibly Well!
    • Shah Rukh Khan To Collaborate With ‘Stree’ Writers Raj And DK
    • Amitabh Bachchan Pays Tribute To His Make-up Man, Says He Never Missed A Day In 47 Years
    • Grammy Awards 2020: Priyanka Chopra Gets A Thumbs Down For Sporting The Most Dangerous Dress
    • Shikara: Makers Drop New Poster, Announce Second Trailer’s Release
    • Here’s Why Chhapaak Makers Failed To Credit Laxmi Agarwal’s Lawyer!
    • Bachchan Pandey: What Changed In Akshay Kumar's New Look?
    • Akshay Kumar Takes A Dig At Himself While Announcing New Release Date Of Bell Bottom
    • RIP Kobe Bryant: Rishi Kapoor Shares Son Ranbir Kapoor's Fan Moment With Basketball Legend
    • Kangana Ranaut On Karan Johar's Padma Shri Honour: 'He Totally Deserves This Award'
    • Aamir Khan's Laal Singh Chaddha BO Clash With Akshay Kumar's Bachchan Pandey Averted
    • Panga Vs Street Dancer 3D Third Day Box Office Collection: This Is How Both The Films Fared At BO
    • Padma Shri: Rangoli Chandel Mocks Alia Bhatt For Sending Flowers To Kangana Ranaut
    • Tigmanshu Dhulia's Niece Allegedly Harassed By 'Four Drunk Boys' In Train; Director Calls For Help
    • Mission Mangal Director Jagan Shakti Critical; Hospitalised For Blood Clot In Brain
    • Ala Vaikunthapuramloo Day 14 Box Office: Collections Slow Down As Week 2 Comes To An End
    • Shah Rukh Khan Says Being Indian Takes Precedence At His Home Over Religion. WATCH NOW!
SBI Loans To Get Cheaper; One-Year MCLR 7.9%
Good Returns | 9th Dec, 2019 01:48 PM

Even after the RBI maintained status quo in its December bi-monthly monetary policy meet with a rate pause, SBI today has slashed its lending rate by 10 basis points. One basis point is one-hundredth of a percentage point.

With effect from December 10, SBI's one-year MCLR stands reduced at 7.9% per annum as against 8% currently. Notably, this is the eight-straight reduction in MCLR by the bank in the FY 2019-20. The move will reduce the lending rate on SBI retail loans including home and personal loans.

Last week, the RBI held key repo rate steady at 5.15% after five back to back cuts this year. In its policy statement, RBI governor said, "Already, the weighted average term deposit rate has fallen by 16 bps. Overall liquidity in the system remains in sizable surplus. This augurs well for transmission to lending rates, going forward".

Also, he looks forward to the improved transmission of rates to the end borrower with the linking of lending rates to the key repo rate of the RBI.

GoodReturns.in

   
 
Health and Life
  • Sea Salt: Health Benefits, Risk Factors And Uses
  • 8 Foods That Improve Sex Drive In Women
  • Top 10 Vegetables To Relieve Constipation
    • 8 Amazing Health Benefits Of Birch Water
    • Flaxseeds For Weight Loss: Ways To Add It To Your Diet
    • 12 Home Remedies For COPD (Chronic Obstructive Pulmonary Disease)
      • 8 Bedtime Teas That Help You Sleep Better
      • Severe Acute Respiratory Syndrome (SARS): Causes, Symptoms, Risk factors, Treatment And Prevention
      • 10 Foods You Should Avoid Eating In The Morning
        • 10 Diseases Linked To Physical Inactivity
        • Study Shows How Blue Light From Mobile Phones Damages Your Eyes
        • Dehydrated? Eat These 15 Hydrating Foods For Relief
          • 7 Surprising Benefits Of Working Out With A Partner
          • How Does Alcohol Affect Your Workout?
          • 10 Best Foods To Keep Your Lungs Healthy
            • 11 Healthy Lifestyle Tips For Entrepreneurs
            • 11 Health Benefits Of Doing Pushups Daily
            • Did You Know These Benefits of Drinking Green Tea Before Bed
              • Why Should You Keep A Sliced Lemon Next To Your Bed?
              • Osteoporosis Diet For Women: Foods To Eat & Foods To Avoid
              • Menopause Weight Gain: Causes, Risks And Prevention