Home loan to get cheaper as SBI to cut MCLR by 25 bps from June 10
The country's largest lender State Bank of India (SBI) has announced that it will reduce marginal cost of fund based lending rate (MCLR) by 25 basis points across all tenors from June 10 (Wednesday). SBI has also reduced its base rate by 75 basis points, from 8.15 per cent to 7.40 per cent, effective June 10. The one year MCLR has been revised to 7 per cent from 7.25 per cent.. This is the thirteenth consecutive reduction in the bank's MCLR. "Consequently, EMIs on eligible home loan…