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Home loan EMIs to get cheaper? SBI passes on RBI’s 25 bps repo rate cut benefits; check the new rates – The Times of India
After the Reserve Bank of India (RBI) reduced the repo rate by 25 basis points last week, several major banks have moved to pass on the benefit to borrowers. Latest addition to the wave is the State Bank of India (SBI), which announced cuts across its lending rate benchmarks, in a move aimed at easing borrowing costs and lowering EMIs for both retail and corporate customers.The public sector entity slashed the MCLR, EBLR and RLLR rates and revised the BPLR and base rates, according to ET.Herre are the new rates:
MCLR rates revised across tenors
SBI has cut its Marginal Cost of Funds-based Lending Rate (MCLR) across these tenors:Short-span
- Overnight and one-month MCLR: Reduced from 7.90% to 7.85% each.
- Three-month MCLR: Cut from 8.30% to 8.25%
- Six-month MCLR: Now at 8.60%, down from 8.65%
Long-term
- One-year MCLR: Lowered from 8.75% to 8.70% (widely used for retail loans)
- Two-year MCLR: Reduced from 8.80% to 8.75%, according to ET.
- Three-year MCLR: Now 8.80%, down from 8.85%
Effective 15 December this year, SBI also revised its External Benchmark Lending Rate (EBLR) and Repo Linked Lending Rate (RLLR):EBLR ratesDown from 8.15% + Credit Risk Premium (CRP) + Bank Spread (BSP) to 7.90% + CRP + BSP, reducing the benchmark by 25 basis points. The final interest rate payable will depend on the borrower’s CRP and the bank’s BSP.RLLR ratesFrom 7.75% + CRP, the figure came to 7.50% + CRP, reflecting a 25-basis point cut. Borrowers with EBLR- and RLLR-linked loans will see a decline in interest rates and EMIs based on their loan conditions and risk category, ET reported.BPLR ratesSBI has also revised its Benchmark Prime Lending Rate (BPLR) to 14.65% per annum.Base rate adjustmentsThe bank also cut it base rate to 9.90%, effective from 15 December 2025.
President Donald Trump said he’s considering sending the National Guard to U.S. airports, two days after the administration deployed Immigration and Customs Enforcement agents to several major U.S. airports following hourslong waits for travelers because of the partial government shutdown.
In a Truth Social post Wednesday, Trump blamed Democrats for the shutdown, which began Feb. 14.
“Thank you to our great ICE Patriots for helping. It makes a big difference,” he wrote in his post. “I may call up the National Guard for more help.”
Travelers wait in line at a Transportation Security Administration (TSA) checkpoint at Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, US, on Monday, March 23, 2026.
Elijah Nouvelage | Bloomberg | Getty Images
More than 11% of TSA officers called out on Wednesday and over 450 have quit since the shutdown started, the Department of Homeland Security said.
Elevated absences of Transportation Security Administration officers, who are required to work though they’re not getting paid during the shutdown, have contributed to long lines at major U.S. airports, including in Atlanta, Houston and New York.
The DHS, which oversees both ICE and and the TSA, said the ICE agents will “support airports facing the greatest strain” but the department didn’t respond to requests for comment on what the ICE agents’ duties are. ICE agents are getting paid in the shutdown.
Airlines have been warning customers about potentially long security lines, while executives grow increasingly frustrated with lawmakers about the impasse. On Tuesday, Delta Air Lines said it suspended its airport escorts and other special services for members of Congress and their staff because of the ongoing partial shutdown of the DHS.
The shutdown comes as Democrats in Congress have demanded changes to how federal immigration enforcement operates in exchange for releasing DHS funding after two U.S. citizens were shot and killed by ICE officers in Minneapolis.
Low-income families are being offered help with the cost of food during the Easter holidays.
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