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SBI MCLR Rates: The State Bank of India (SBI) has increased the MCLR rates from Friday. The bank has increased the MCLR rates by 0.05 percent.

SBI MCLR Rates: SBI, the country's largest government bank, has given a shock to its crores of customers. The bank has increased the MCLR rates from today (November 15). The increase in MCLR rates has a direct impact on the EMI of your personal loan, car loan, and home loan. The bank has increased the interest rates by 0.05 percent. Recently, the bank has increased the MCLR rates for the second time.

What are the latest MCLR rates

According to the official website of the State Bank of India, the bank has revised the MCLR rates for 3 months, 6 months and 1 year. In this, the 3-month rate has been increased from 8.50 percent to 8.55, the 6-month rate from 8.85 percent to 8.90 percent, and the 1-year rate from 8.95 percent to 9.00 percent.

SBI has also increased the MCLR of only three, six, and 12 months. The MCLR of one-day, one month, two years and three years period has been maintained.

42 percent loan is linked to MCLR

The bank's chairman CS Shetty said that 42 percent of the bank's loan segment is linked to MCLR, while the rest is based on external benchmarks. He had also clarified that the deposit rates in the banking system are at their highest level.