SBT Gives Option to Switch Over to MCLR System

THIRUVANANTHAPURAM:
As per instructions from Reserve Bank of India, State Bank of Travancore has shifted from the existing Base Rate system to MCLR system for fixing lending rates with effect from 01 April 2016. The bank has introduced the MCLR system from 01 April 2016 for all the new customers. SBT is providing a switchover option facility to the existing customers for reaffixing the interest rates of their loans, from the existing interest rate system to the MCLR system.
The switchover will be subject to the terms and conditions stipulated by Reserve Bank of India. Interested customers may contact their branch to avail the facility.