Utility News; If you have taken a loan from SBI then you will also have to pay increased EMI, know the reason

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SBI Bank has changed the MCLR and if you have also taken any loan from SBI, then it is sure to put a burden on your pocket. That is because now your EMI is going to increase and your loan is going to be costlier. In such a situation, you too should start preparing for it.

Its effect will be seen first in the old customers who have taken loans from the bank. The EMI of old customers will also increase. According to the information, the bank has increased the lending rate by 15 basis points i.e. up to 0.15 percent.

According to the information, MCLR for 2 years and 3 years has also been increased by 0.10 percent to 8.25 and 8.35 percent. After the increase in MCLR, now home loan, car loan, personal loan will become costlier. The MCLR for loans with a tenure of one year has been increased from 7.95 per cent to 8.05 per cent now.