See, how banks are behaving at their customers. SBI MCLR Rate is now not fair. Loan takers who are not repaying back are enjoying their life and the common man suffers. Punjab national bank is also raising the lending interest rates now. Don’t be panic. This is all because of governments and its economic, financial and banking policies. Our banking system is in such pity condition that no bank officials, finance ministers, RBI never cross check or look deep into what banks are doing and how the recovery rate is for decades. Because of that, many corporate companies like Kingfisher, jewelry business owner Nirav Modi etc.
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SBI MCLR Rate
Now the issue is that the state bank of India (SBI) started fundraising program. Hold on! It is not from the big fish those who do the frauds and hide in abroad, it is from common man who took the home loan which is a big dream of their lives. These SBI MCLR Rate can not be handled by indian middle class people. The employees, common man etc always dream about home. For that, they cannot afford the cost in the cities and settle the payment at a single time. So, they obviously go for the bank loan. Till today, the banks home loan interest is 7.8% per annum. Now it becomes 8. 15%.
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SBI Home Loan Interest Rates
This is too much. 15% hike approximately. Is it fair? Not at all right? The government of India, RBI also knows this fact. The common man should not be suffered by the big looters of the bank. Isn’t it? I too disagree with this loan rate hike. How can common men survive in this 21st century with fewer salaries and high loan interest rates and the high cost of living in India? It is too bad. This is all because of banks and their overlook of the loan takers since decades. They should very much understand of the companies and their business before sanctioning the loan for them. Thousands of crore were gone waste. Who has to repay that money? The banks cannot do anything. They cannot take actions on them. So they silently fall on common man and the loan takers across India.
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SBI Home Loan Interest Rate For Existing Customers
Tenor Existing MCLR (In %) Revised MCLR (In %)
Overnight 7.7 7.8
One month 7.8 7.8
Three months 7.85 7.85
Six months 7.9 8
One year 7.95 8.15
Two years 8.05 8.25
Three years 8.1 8.35
SBI Interest Rates
You can see the exact deposit and loan interest rates at the official website of SBI. The bank portal shows us the latest updates and we also cover some important things very frequently. Everybody is saying that looters enjoy money by running away when the fraud comes into light. The common man is the sufferer at the end. Modi government has brought new financial acts to control this kind of frauds in future, the results will not be reflected now itself. It will take much time. The new SBI MCLR Rate or loan takers from the bank will now take too much care while doing loan sanction.
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They will ask for the surety without hesitation. The banks will now cross-check whether the loan taker can really repay the money back or not. Once the banks confirm that he or she can repay otherwise they can handover and put the properties of the defaulter to auction and finally recover the money. We hope that the new policy implementation happens very faster and the common man sufferings only because of big fraudulent do the mess always.