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Home, Car and Retail Loans to Get Cheaper as SBI Cuts Lending Rate

Professor of Financial Economics and Part-time Value Investor, Transfin.
Dec 12, 2019 6:05 AM 1 min read

Home, car and retail loans to get cheaper as SBI cuts lending rate.



Home, car and retail loans to get cheaper as SBI cuts lending rate.

And It's A Cut: The State Bank of India (SBI) today announced a cut in one-year marginal cost of funds-based lending (MCLR) rate by 10 bps, effective from December 10th, bringing the MCLR rate down to 7.90% per annum from 8.00% per annum. The news comes even after the RBI decided to hold repo rate in its MPC meeting last week. 


What Does This Mean: With this cut, home, car and other retail loans of SBI linked to MCLR are likely to get cheaper.


FYI: This is the eighth consecutive cut in MCLR by SBI this fiscal. Hindu BusinessLine


Extra Crunch: Credit cards can come handy in case of a financial emergency. However, there is another kind of card that can outdo your average credit card in terms of spending limit and rewards - a charge card. Here's all you need to know about charge cards, in case you are planning to get one. Livemint


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