State Bank of India has lowered its lending rates by ten basis points across all tenors. It has also revised their savings
In a statement, SBI said, the new Marginal Cost Of Funds-Based Lending (MCLR) rate will be effective from today while the revision in savings bank deposits rates will be from 1st November. SBI, which controls a fifth of the system, has also slashed its retail term deposits 10 basis points and bulk term deposits rates by 30 basis points for one-year to less than two-years effective 10th October.