Mclr Rates

Banks may hike MCLR by 150 bps in FY24 amid tight liquidity: Report

RBI has raised policy repo rate by 250 basis points in stages to 6.5% in February 2023

SBI raises MCLR by 10 bps; increases deposit rates in some buckets

Lender announces decision after central bank last week raised the repo rate to 6.50%

SBI loans to get costlier as bank hikes key lending rate; Details here

Following the RBI MPC's repo rate hike earlier this month, many banks like Bank of Baroda, Bank of India, and Punjab National Bank have also hiked their key lending rates

Kotak Mahindra increases 1-year MCLR rate by 10 bps, hikes for other tenors

For other tenor loans ranging from overnight to three year, the revised rates are in the range of 7.80-9.05%, according to Kotak

Bank of Baroda increases MCLR rate by up to 15 bps across tenors

State-owned Bank of Baroda on Thursday said it has increased its marginal cost of funds based lending rate by up to 15 basis points (bps) across tenors. The lender has approved the revision in marginal cost of funds based lending rate (MCLR) with effect from November 12, 2022, Bank of Baroda said in a regulatory filing. The benchmark one-year tenor MCLR has been raised by 10 basis points to 8.05 per cent. It is the rate at which most of the consumer loans such as personal, auto and home are tied to. Among others, the overnight rate has been raised to 7.25 per cent from 7.10 per cent earlier. The one, three and six-month MCLRs were raised by 10 basis points each to 7.70 per cent, 7.75 per cent and 7.90 per cent, respectively.

Setback for realty developers as SC recalls order capping interest rate

With the recent order, the way has been unlocked for the government authorities to get the land dues worth Rs 40,000 crore from the defaulters which were pending for years

Bank of Maharashtra raises one-year MCLR by 10 bps for select tenor loans

State-owned Bank of Maharashtra on Wednesday said it has increased its marginal cost of funds based lending rate (MCLR) for select tenor loans. The benchmark one-year MCLR, used to price most of consumer loans such as auto, personal and home, has been revised upwards to 7.90 per cent from 7.80 per cent, the lender said in a regulatory filing. The revised MCLR has come to effect from November 7, 2022. The one-month MCLR has been raised by 5 basis points to 7.50 per cent. Rates for other tenor loans like overnight, three and six months have been kept unchanged. Bank of Maharashtra stock traded at Rs 24.25 apiece on BSE, up by 4.08 per cent.

Indian Overseas Bank, Bank of Maharashtra hike MCLR by up to 25 bps

One-year median MCLR of scheduled commercial banks has increased from 7.75 per cent in September

DCB Bank raises MCLR rates across tenors by 27 basis points to 10.23%

Private sector DCB Bank has revised upwards the marginal cost of funds-based lending rate by 27 basis points across tenors. The revised rates will come to effect from November 5, 2022, DCB Bank said in a regulatory filing on Friday. The benchmark one-year MCLR rate will be priced at 10.23 per cent from Saturday against the existing rate of 9.96 per cent. The one-year tenor MCLR is used to price most of the consumer loans, such as housing, auto and personal. The one, three and six-month tenor MCLRs will be 9.63 per cent, 9.79 per cent and 10.02 per cent, respectively. While the overnight tenor MCLR will be 9.58 per cent.

Axis Bank hikes MCLR by 25 bps, joining other lenders in policy action

Central bank's MPC has cumulatively increased the repo rate by 190 bps since May

Bank of Maharashtra raises lending rate by 20 bps; EMIs to become costlier

State-owned Bank of Maharashtra (BoM) on Monday raised the marginal cost of funds-based lending rates (MCLR) by 0.20 per cent or 20 basis points across tenors. The revision will make loans linked to MCLR benchmark costlier. The benchmark one-year MCLR will be 7.80 per cent from Monday, as against 7.60 per cent. The one-year rate is used to fix most consumer loans such as auto, personal and home loans. The overnight to six months tenor MCLRs are raised by 0.20 per cent each in the range of 7.30 to 7.70 per cent. The hike has been effected in their benchmark rate linked to the repo rate, which was increased by half a percentage point to 5.9 per cent last month by the Reserve Bank of India. Many banks led by State Bank of India (SBI) have already adjusted their lending rates after the Reserve Bank raised the benchmark interest rate to tame inflation.

IndusInd Bank and RBL Bank increase MCLR days ahead of MPC meeting

MPC has increased the repo rate by 140 bps cumulatively since May in an effort to rein in inflation

State-owned lenders raise MCLR, month after third repo rate hike

RBI has increased benchmark policy rate by 140 bps cumulatively since May

HDFC Bank hikes MCLR by 10 bps across loan tenures, effective Sep 7

Second rate hike in two months by lender after RBI's rate setting committee hiked benchmark repo rate by 50 bps to 5.4%; new MCLR at 7.90-8.40%

1-year median MCLR rise moderates in August, up 40 bps since June

Foreign banks have raised it the most, median rate up 90 bps; just 20-bp rise for private banks

New rules from Sept 1 2022: LPG prices, expressway toll taxes and more

New rules are introduced on September 1, Thursday 2022. Banking norms, gas cylinders, insurance premiums and property prices will be impacted. Read this detailed article to know more

Bank of Baroda to increase MCLR rates by up to 0.2% from August 12

The interest rate hike comes after the Reserve Bank of India's (RBI's) six-member monetary policy committee (MPC) raised the benchmark repo rate by another 50 bps to 5.40 per cent last week

HDFC Bank, IDFC First hike MCLR post repo rate hike by Reserve Bank

Most banks have revised their external benchmark linked loan rates by 50 bps

State Bank of India increases MCLR by 10 bps, second hike since June

The six-month MCLR is at 7.45 per cent; one-year MCLR is at 7.50 per cent; two-year MCLR is at 7.70 per cent; and three-year MCLR is at 7.80 per cent

Bank of Maharashtra bucks the trend, cuts MCLR by 20-35 basis points

The state-owned lender cut overnight and one-month MCLR by 25 bps to 6.90 per cent and 7 per cent