Vijaya Bank raises MCLR by 0.05% on select maturities

State-owned Vijaya Bank has hiked marginal cost based lending rates (MCLR) by 0.05 per cent for select maturities, following industry peers.

The bank has revised the MCLR with effect from September 7, 2018, Vijaya Bank said in a regulatory filing.

The one-year MCLR, against which consumer loans are benchmarked, has been raised to 8.70 per cent from 8.65 per cent earlier.

Among others, six, three, one month and overnight MCLRs will attract 0.05 per cent higher interest each in the range of 8.60-8.05 per cent.

However, it has kept the MCLRs unchanged for three year and two year loans at 9.25 per cent and 9 per cent, respectively.

Last week, industry leader SBI had increased the lending rate by 20 basis points or 0.20 per cent across all tenors up to three years.

SBI's MCLR for a one-year tenor has been increased to 8.45 per cent from 8.25 per cent.

ICICI Bank and Bank of Baroda too have raised their MCLRs.