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SBI hikes lending rates; home, auto loan EMIs to go up

New Delhi, November 15

The State Bank of India has raised the marginal cost of funds-based lending rate (MCLR) by 15 basis points across tenors, making most consumer loans costlier for borrowers.

The benchmark one-year MCLR, which is used as base for fixing most of home, auto and personal loans, has been raised by 10 basis points to 8.05 per cent, as against 7.95 per cent earlier.

Likewise, the two-year and three-year MCLRs have been raised by 10 basis points each to 8.25 per cent and 8.35 per cent, respectively. Among others, one-month and three-month MCLRs have been increased by 15 basis points each to 7.75 per cent. The six-month MCLR is up by 15 basis points at 8.05 per cent.

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