New Delhi: In a major relief for borrowers, the State Bank of India (SBI) has slashed loan EMIs linked to benchmarks like the External Benchmark Rate (EBR), External Benchmark Lending Rate (EBLR), and Repo Linked Lending Rate (RLLR) by 50 basis points. The new rates are effective from June 15.
SBI MCLR June 2025
SBI’s Marginal Cost of Funds Based Lending Rate (MCLR) though remains unchanged. The overnight and one-month MCLR stand at 8.20 per cent, the three-month rate is 8.55 per cent, and the six-month rate is 8.90 per cent. The benchmark one-year tenor MCLR, which is used to price most consumer loans like auto and personal remains at 9.00 per cent, while the two-year and three-year MCLR rates are 9.05 per cent and 9.10 per cent respectively.
| Tenor | Existing MCLR (In %) | Revised MCLR (In %)* |
|---|---|---|
| Over night | 8.20 | 8.20 |
| One Month | 8.20 | 8.20 |
| Three Month | 8.55 | 8.55 |
| Six Month | 8.90 | 8.90 |
| One Year | 9.00 | 9.00 |
| Two Years | 9.05 | 9.05 |
| Three Years | 9.10 | 9.10 |
SBI EBLR, RLLR June 2025
External Benchmark Rate (EBR) has been reduced from 8.65 percent to 8.15 percent. On the other hand the RLLR now stands at 7.75, a reduction from previously 8.25 percent.
| Existing Rate (In %) | Revised Rate (In %) | |
|---|---|---|
| EBLR | 8.65+CRP+BSP | 8.15+CRP+BSP |
| RLLR | 8.25+CRP | 7.75+CRP |
Days after RBI announcement on repo rate reduction, the country’s largest lender State Bank of India (SBI) has announced to reduce its savings bank account rate by up to 50 basis points (bps) across all account balances. The new SBI savings rates are effective from 15 June 2025.
SBI has also slashed interest rates on fixed deposits below Rs 3 crore by 25 basis points on different tenors effective from 15 June 2025.
Meanwhile, SBI has also slashed the interest rates for its term deposit scheme Amrit Vrishti from 6.85 percent to 6.60 percent with effect from 15 June 2025.
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