SBI cuts base rate by 15 bps, with effect from April 1

Mumbai April 3 (IANS) Bringing cheer to customers who have raised loans prior to April 1 2016 the largest public lender State Bank of India (SBI) cut its base rate by 15 basis points (bps) to 9.10 per cent with effect from April 1 2017.

Earlier the base rate stood at 9.25 per cent.

The marginal cost-based lending rate (MCLR) of the SBI however remains unchanged. The six-month MCLR rate is at 7.95 per cent while the three-year rate stands at 8.15 per cent.

--IANS
mm/tsb/dg