RBL Bank and IndusInd Bank have increased the Marginal Cost of Lending Rates (MCLR). This increase is of 15-20 basis points, which has been implemented from today. The EMI of the customers taking loan from these two banks will increase.
RBL Bank hikes lending rates: RBL Bank has increased the MCLR by 20 basis points. After this increase, the EMI of those who have taken a loan based on MCLR i.e. Marginal Cost of Lending Rates from the bank will increase. The new interest rate is applicable from today. According to the information available on the bank’s website, now its benchmark rate has increased from 8.05 percent to 9.25 percent.
The loan interest rate for the overnight period has increased to 8.05 per cent from 7.85 per cent earlier. The MCLR for one month has increased to 8.15 per cent from 7.95 per cent earlier. The MCLR for three months has increased to 8.45 per cent from 8.25 per cent. The interest rate for six months has increased to 8.85 per cent from 8.65 per cent earlier. Marginal cost lending rates have increased from 9.05 per cent to 9.25 per cent for a period of one year.
MCLR increased by 30 basis points
IndusInd Bank has increased the MCLR by 15-30 basis points. According to the information available on IndusInd’s website, the minimum interest rate is 8.25 percent, while the maximum interest rate has increased to 9.70 percent. The interest rate for the overnight period has increased to 8.25 per cent from 8.10 per cent earlier. The MCLR for one month has increased to 8.30 per cent from 8.15 per cent earlier. The interest rate for three months has increased to 8.60 per cent from 8.40 per cent earlier.
MCLR increased by 30 basis points for one year
The interest rate for six months has increased to 8.95 per cent from 8.70 per cent earlier. In this way it has increased by 25 basis points. The MCLR for one year has increased to 9.30 per cent from 9 per cent earlier. It increased by 30bps. The MCLR for two years has increased to 9.60 per cent from 9.35 per cent earlier and the interest rate for three years has increased to 9.70 per cent from 9.50 per cent earlier.
