SBI's MCLR reduction follows a 25 basis points cut in the repo rate by RBI.

State Bank of India or SBI has reduced its benchmark lending rate by 10 basis points or 0.10 percentage points across all tenors. The new rate, effective from today, marks the sixth reduction by SBI this financial year. SBI's marginal cost-based lending rate or MCLR, the rate to which all of its home loans are linked, now stands at 8.05 per cent for the one-year tenor, from 8.15 per cent earlier, according to SBI's statement. SBI said the revision in MCLR is "in view of the festival season and extending the benefits to customers across all segments."

Here are revised SBI's tenor-wise MCLR, effective from October 10: