State Bank of India has announced reductions across both its External Benchmark Lending Rate (EBLR) and Repo Linked Lending Rate (RLLR), effective December 15, 2025. SBI’s EBLR has been lowered from 8.15% plus Credit Risk Premium (CRP) and Bank Spread (BSP) to 7.90% plus CRP and BSP, reflecting a 25-basis-point cut in the benchmark component.Similarly, SBI’s RLLR, which is directly tied to the RBI’s repo rate, has been reduced from 7.75% plus CRP to 7.50% plus CRP. The final interest rate for borrowers will ...

Core Viewpoint - Several major banks in India have reduced their Repo Linked Lending Rates (RLLR) following a 25 basis point cut in the RBI's repo rate, leading to potential lower EMIs for borrowers [1][6]. Group 1: Canara Bank - Canara Bank has cut its RLLR by 25 basis points from 8.25% to 8%, effective December 12, 2025 [1]. - Existing borrowers will see a reduction in their EMIs or loan tenure based on their loan agreements [1]. Group 2: Punjab National Bank - Punjab National Bank has reduced its RLLR from 8.35% to 8.10%, effective December 6, 2025, including a bank spread of 10 basis points [1]. Group 3: Indian Overseas Bank - Indian Overseas Bank has revised its RLLR to 8.10%, effective December 15, 2025, with a one-year MCLR at 8.80% and a three-year MCLR at 8.85% [2]. Group 4: State Bank of India - State Bank of India has reduced its EBLR from 8.15% plus Credit Risk Premium (CRP) to 7.90% plus CRP, and its RLLR from 7.75% plus CRP to 7.50% plus CRP, effective December 15, 2025 [3]. - The final interest rate will depend on individual risk profiles and applicable spreads, but the cuts are expected to lower EMIs for eligible customers [3]. Group 5: Bank of Baroda - Bank of Baroda's effective BRLLR will decrease from 8.15% to 7.90%, effective December 6, 2025, providing slight relief to borrowers [4]. Group 6: Indian Bank - Indian Bank has reduced its RLLR from 8.20% to 7.95%, effective December 6, 2025 [5]. Group 7: Bank of India - Bank of India has cut its Repo Based Lending Rate (RBLR) from 8.35% to 8.10%, effective December 5, 2025, in response to the RBI's repo rate cut [6]. Group 8: Bank of Maharashtra - Bank of Maharashtra has reduced its home loan rates from 7.35% to 7.10% and car loan rates from 7.70% to 7.45%, waiving all processing fees on these loans [6].

Core Viewpoint - The Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points, prompting major banks, including the State Bank of India (SBI), to lower their lending rates to ease borrowing costs for customers [3]. Group 1: Lending Rate Adjustments - SBI has cut its Marginal Cost of Funds-based Lending Rate (MCLR) across various tenors, effective from December 15, 2023 [2][3]. - The External Benchmark Lending Rate (EBLR) has been reduced from 8.15% + Credit Risk Premium (CRP) + Bank Spread (BSP) to 7.90% + CRP + BSP, a decrease of 25 basis points [2][3]. - The Repo Linked Lending Rate (RLLR) has been adjusted from 7.75% + CRP to 7.50% + CRP, reflecting a 25-basis point cut [2][3]. - The Benchmark Prime Lending Rate (BPLR) has been revised to 14.65% per annum [2][3]. - The base rate has been cut to 9.90%, effective from December 15, 2025 [2][3]. Group 2: MCLR Specifics - Overnight and one-month MCLR rates have been reduced from 7.90% to 7.85% each [4]. - The three-month MCLR has been cut from 8.30% to 8.25% [4]. - The six-month MCLR is now at 8.60%, down from 8.65% [4]. - The one-year MCLR has been lowered from 8.75% to 8.70%, which is widely used for retail loans [4]. - The two-year MCLR has been reduced from 8.80% to 8.75% [4]. - The three-year MCLR is now at 8.80%, down from 8.85% [4].