SBI has raised its effective Marginal Cost of Lending (MCLR) by 0.10%, across all tenures with effect from June 1,2018.

This is the second hike in MCLR by SBI this year. It has already increased MCLR in March 2018. As per the bank’s website, MCLR for over-night tenor was 7.80% as on May 31,2018 and it will be 7.90% from June 1,2018. For one month tenor it was 7.80% and now it will be 7.90%.

MCLR was for three-months tenor was 7.85% and from June 1,2018 it will be 7.95%. For six months tenor it was 8.00% and now it will be 8.10%, for one year it was 8.15% and now it will be 8.25%. Furthermore, for two and three years it was 8.25% and 8.35% and now it will be 8.35% and 8.45% respectively.

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