SBI has raised its marginal cost of lending rate (MCLR) on loans by 20 basis points or 0.2 per cent. The higher MCLR is effective from August 15, 2022. Loans linked to an external benchmark (EBLR) and repo linked (RLLR) have also been hiked. According to the public sector lender’s website, the one-year MCLR rate has increased to 7.70 per cent. The rates for overnight, one month and three months have been increased from to 7.35 per cent. MCLR for a six-month term has been increased to 7.65 per cent from 7.45 per cent earlier. Rates for the two-year and three-year MCLR have been hiked to 7.90 per cent and 8 per cent, respectively.