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Syndicate Bank hikes lending rate by 0.1 pc

Press Trust of India  |  New Delhi 

State-run today increased its marginal cost of funds based lending rate (MCLR) by 0.1 per cent for various tenors of loans.

The has revised MCLR and the new rates would be effective July 10, said in a filing to stock exchanges.

rates for loan tenors of overnight, one month, three months, six months and one year have been hiked by 0.1 per cent to 8.10 per cent, 8.15 per cent, 8.20 per cent, 8.40 per cent and 8.65 per cent, respectively.

However, another reduced rate on select tenors by up to 0.15 per cent.

Lenders review the MCLRs every month.

The rise in MCLR will make such as auto, home and personal loans costlier for the customers.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, July 07 2018. 20:35 IST