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SBI, IOB lower lending rates as RBI cut flows through to borrowers
SBI and IOB reduced lending rates from December 15 after the RBI cut policy rates, lowering EMIs for retail, MSME, and corporate borrowers.
Borrowers are set to benefit as State Bank of India passed on the Reserve Bank’s latest rate cut by reducing key lending rates. SBI lowered its External Benchmark Linked Rate by 25 basis points to 7.90 per cent, effective December 15, 2025, making home, auto, and personal loans cheaper. The bank also cut MCLR across tenures by 5 basis points, reduced the one-year MCLR to 8.70 per cent, and lowered the base rate to 9.90 per cent.