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Good News For Borrowers: SBI Reduces MCLR Rate By 25 Bps; EMIs Likely To Fall | Banking and Finance News
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SBI MCLR Rates: SBI reduced MCLR by up to 25 basis points across all tenures, effective July 15, 2025.
SBI Recruitment 2025-26: Prospective applicants are advised to commence their preparations and await the official notification. (News18)
SBI MCLR Rate: The largest public lender of India State Bank of India (SBI) has announced to reduce marginal cost of funds-based lending rate (MCLR) up to 25 basis points on all tenures. The new rates are effective from July 15, 2025. The lender is now offering MCLR between 7.95% and 8.90% as compared to the previous rate between 8.20% and 9.10%.
It comes after the Reserve Bank of India-led by Sanjay Malhotra, unanimously decided to cut the repo rate by 50 bps to 5.50 per cent from 6 per cent. It was the third time that the central bank slashed the key benchmark lending rate, given that inflation was under control.
A cut in MCLR is generally good news for borrowers, as it can lead to cheaper loans and lower EMIs.
Latest SBI MCLR Rates Are As Follow:
| Tenor | Existing MCLR (In %) | Revised MCLR (In %) |
| Over night | 8.2 | 7.95 |
| One Month | 8.2 | 7.95 |
| Three Month | 8.55 | 8.35 |
| Six Month | 8.9 | 8.7 |
| One Year | 9 | 8.8 |
| Two Years | 9.05 | 8.85 |
| Three Years | 9.1 | 8.9 |
IOB MCLR Rates
India Overseas Bank has also announced to cut the MCLR rate by 10 basis points across all tenors. The new rates will come into effect from July 15, 2025. Earlier, the bank had reduced Repo Linked Lending Rate (RLLR) by 50 basis points – from 8.85% to 8.35%—with effect from June 12.
The revised MCLR w.e.f 15.07.2025 are as below:
| Sr No | Tenor | Existing MCLR %w.e.f 15.01.2025 | Revised MCLR % w.e.f 15.07.2025 |
| 1 | Overnight MCLR | 8.25 | 8.15 |
| 2 | One – Month MCLR | 8.50 | 8.40 |
| 3 | Three – Month MCLR | 8.65 | 8.55 |
| 4 | Six – Month MCLR | 8.90 | 8.80 |
| 5 | One Year MCLR | 9.10 | 9.00 |
SBI Service Maintenance Break
The State Bank of India has announced that several of its digital services will be temporarily unavailable on 16th July 2025, due to scheduled technical maintenance.
The downtime will occur between 1:05 AM and 2:10 AM, a 65-minute window during which customers may face service disruptions across UPI platforms (including apps like YONO, PhonePe, and Google Pay), ATM withdrawals, and internet banking.
According to SBI’s official communication, the following services will be inaccessible during the maintenance period:
- UPI (Unified Payments Interface)
- IMPS (Immediate Payment Service)
- YONO (You Only Need One – SBI’s mobile app)
- RINB (Retail Internet Banking)
- ATM services
- NEFT (National Electronic Funds Transfer)
- RTGS (Real Time Gross Settlement)
The bank has assured customers that services will resume gradually after the maintenance is completed.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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