ICICI hikes MCLR, Suryoday Small Finance Bank revises FD rates

Overnight and one-month MCLR rates are now at 8.50%, while the MCLR for three months is at 8.55%, ICICI Bank's website showed

Private lender ICICI Bank has raised its marginal cost-based lending rates (MCLR) by ten basis points across tenures, effective from March 1.

Overnight and one-month MCLR rates are now at 8.50 per cent, while the MCLR for three months is at 8.55 per cent, ICICI Bank’s website showed. The six-month MCLR is at 8.70 per cent while the one-year MCLR is at 8.75 per cent.

Meanwhile, Suryoday Small Finance Bank said that it has revised interest rates on fixed deposits with rates in the five-year to 10-year tenor being raised by 75 to 125 basis points. The small finance bank has also revised rates on savings accounts up to 200 bps.