SBI gave relief to crores of its customers! MCLR revised, know whether EMI will be reduced? – sbi india government bank revise mclr home loan car loan emi will go up down impact on customer

SBI: The country’s largest public sector bank State Bank of India (SBI) has given relief to crores of customers in the new year. SBI has announced new loan interest rates (MCLR). MCLR is the rate at which the bank cannot give loan to the customer at lower interest rates. Customers benefit if MCLR decreases or does not increase. That is, it has a direct impact on the EMI of home loan, personal loan, car loan. These new rates have come into effect from January 15, 2025.

Now these are the new MCLR rates from January 2025

SBI has not made any increase in MCLR rate. These remain at previous rates. SBI’s base landing rate MCLR ranges from 8.20 to 9.10 percent. The overnight MCLR rate is 8.20 percent. MCLR has a direct impact on the EMI of your home and car loan. Due to increase in MCLR rates, new loan becomes expensive. Also the EMI of your home and car loan increases.

(Source – SBI Bank website.)

State Bank of India (SBI) FD Rates

7 days to 45 days: For general public – 3.50 percent; For senior citizens – 4 percent

46 days to 179 days: For general public – 5.50 percent; For senior citizens – 6 percent

180 days to 210 days: For general public – 6 percent; For senior citizens – 6.50 percent

211 days to less than 1 year: For general public – 6.25 percent; For senior citizens – 6.75 percent

1 year to less than 2 years: For general public – 6.80 percent; For senior citizens – 7.30 percent

2 years to less than 3 years: For general public – 7.00 percent; For senior citizens – 7.50 percent

3 years to less than 5 years: For general public – 6.75 percent; For senior citizens – 7.25 percent

From 5 years to 10 years: For general public – 6.50 percent; For senior citizens – 7.50 percent.

Big news for Punjab National Bank customers! Do this work by 23rd January, otherwise it will be closed