Latest News | Bank of Baroda Raises MCLR Across Tenors
Get latest articles and stories on Latest News at LatestLY. 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.
New Delhi, Nov 10 (PTI) 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.
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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.
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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.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)