State Bank of India increases MCLR by 20 bps across all tenors up to three years

SBI Marginal Cost of Funds Based Lending Rate for a 1 year tenor increased to 8.45% from 8.25% earlier. Most of the retail loans are bench marked against 1 MCLR. The MCLR for a 3 year tenor increased to 8.65% from 8.45%.