The country’s largest public sector bank, State Bank of India (SBI), has given a gift to its crores of customers just before Dhanteras and Diwali. SBI has revised its MCLR, but this time, there is no increase or decrease.
This means your EMI (Equated Monthly Installment) for home and car loans will remain the same during the festival season.
MCLR rates are directly linked to your loan interest rates, so no change in MCLR means no change in your EMIs. These new rates are effective from October 15, 2025.
SBI MCLR Rates
Here are the latest SBI MCLR rates:
| Time Period | New MCLR (Oct 15, 2025) | Old MCLR (Sep 15, 2025) |
|---|---|---|
| Overnight | 7.90% | 7.90% |
| One Month | 7.90% | 7.90% |
| Three Months | 8.30% | 8.30% |
| Six Months | 8.65% | 8.65% |
| One Year | 8.75% | 8.75% |
| Two Years | 8.80% | 8.80% |
| Three Years | 8.85% | 8.85% |
Home Loan Processing Fees
SBI charges a processing fee of 0.35% on home loans (plus GST). The fee has a minimum limit of ₹2,000 and a maximum limit of ₹10,000.
What is a CIBIL Score?
CIBIL is a credit information company that provides your credit history and score.
A higher CIBIL score increases your chances of getting a loan at a lower interest rate.
Other RBI-recognized credit agencies include Experian, Equifax, and Highmark.