Present

Associate Sponsors:

Sector Sponsors:

Moneycontrol
Presents Budget 2019

Associate Sponsors

you are here: HomeNewsBusiness
Last Updated : Feb 05, 2019 09:18 PM IST | Source: PTI

Bank of Baroda raises lending rates by up to 0.2%

The bank has revised the marginal cost of funds-based lending rate (MCLR) with effect from Thursday, BoB said in a statement.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Ahead of the monetary policy review, state-owned Bank of Baroda (BoB) Tuesday increased its lending rates by up to 0.2 per cent, a move that will make home, auto and other loans expensive.

The bank has revised the marginal cost of funds-based lending rate (MCLR) with effect from Thursday, BoB said in a statement.

The MCLR for a three-month tenor increased to 8.50 per cent from the existing 8.30 per cent and for six-month maturity, it will go up to 8.70 per cent from the current 8.50 per cent.

Interest rate on one-year tenure will go up by 0.1 per cent to 8.75 per cent.

Most of the retail loans are benchmarked against one-year MCLR.

The RBI is schedule to unveil its sixth bi-monthly monetary policy on Thursday.
First Published on Feb 5, 2019 09:15 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant