State Bank of India Lifts MCLR Lending Rates by 15 Basis Points
State Bank of India raised its MCLR rates by 15 basis points for tenors from 3 months to 3 years, effective October 15, according to TradingView.
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what happened
State Bank of India (SBI) raised its marginal cost of funds-based lending rates by 15 basis points across tenors from 3 months to 3 years, effective October 15, according to TradingView.
The new rates are 8.40% for 3 months, 8.75% for 6 months, 8.85% for one year, 8.90% for two years and 8.95% for three years. Overnight and one-month rates remain at 7.85%.
why it matters
Higher MCLR rates raise the cost of new and repriced loans, which can cool borrowing demand while supporting banks' interest margins. Separately, Abakkus Flexi Cap Fund increased its stake in the SBI GDR in September, keeping banking as its top sector exposure.
market impact
SBIN and Indian banks: higher MCLR raises loan costs, supporting margins but pressuring credit demand.
tags
instruments
sources
- Key facts: SBIN MCLRs Up 15bps; Abakkus Flexi Cap Fund Raises Stake — ru.tradingview.com, 17 October 2026 at 02:00 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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