India, Dec. 12 -- State Bank of India has reduced its lending rate by up to 25 basis points to pass on to customers the benefit of the RBI repo rate cut announced last week. That makes loans cheaper for new and existing borrowers.

SBI's external benchmark-linked lending rate now stands at 7.90% as against 8.15% earlier-a downward revision of 25 bps. The marginal cost of funds-based lending rate has been reduced by 5 bps across tenors to 8.70%. The one-year maturity rate has been cut 5 bps to 8.75%. The base rate is down 10 bps at 9.9%.

SBI has also decided to cut the fixed deposit rate by 5 bps for maturity period of two years to less than three years to 6.40%.

The revisions comes into effect on Monday, 15 December 2025. One basis poin...