SBI hikes interest rates making home, auto loans costlier
India's largest lender SBI on Thursday increased marginal cost-based lending rates (MCLR) across most maturities, making home, education, and auto loans more expensive. The bank raised the key one-year MCLR rate to 8.15% from 7.95%, effective immediately. The move could lead to other banks increasing their benchmark lending rates, reports said.