Country’s banks cut interest rates. Marginal cost based on lending rates is reduced. SBI has been cut the interest rates early this month like the RBI Rates. The bank’s interest rate on home loans is currently 8.65%.
ICICI Bank, Punjab National Bank and Central Bank of India has been reduced the MCLR rates. ICICI Bank rate cut interest rate by 10 basis points. Banks like HDFC, ICICI, and Axis have recently revised their interest rates.