Mclr Rates

MCLR cuts by HDFC Bank, PNB, BoB hint at possible EMI relief this month

HDFC Bank, PNB, BoB, IOB and BOI trim MCLR rates, signalling possible EMI relief for borrowers soon

BoB, IOB slash MCLR: What it means for your home and personal loan EMIs

BoB and IOB have cut MCLR rates for select tenors, offering EMI relief to borrowers, effective mid-September

EMIs to reduce as HDFC Bank cuts MCLR rates by 5 bps on select loans

Lender's decision will help customers who have floating rate loans linked to the one-year MCLR

PNB, Bank of India trim MCLR rates: How decision may help borrowers

Customers repaying loans linked to older benchmark may benefit as revised terms come into effect

Lower EMIs, loan rates in July as three state-owned banks cut MCLR by 5 bps

Home, auto and corporate loans set to reduce as lenders trim minimum interest rate that they are allowed to charge on loans

Bank of India targets 35% share in MCLR-linked credit in next 2-3 years

Prudent growth forecast for FY26: 12-13%

SBI announces 0.05% hike in marginal cost of fund-based lending rate

The country's largest lender SBI on Thursday announced a 0.05 per cent increase in the marginal cost of fund-based lending rate (MCLR) in some tenors. The one-year MCLR, a key tenor to which long-term loans like home finance are linked, has been increased by 0.05 per cent to 9 per cent effective from Friday, as per a notice on the lender's website. The lender has hiked the MCLR twice in the recent past, amid fears that the higher cost of deposits because of the war on the liabilities side among banks will ultimately result in higher ending rates. The bank's Chairman C S Setty had said 42 per cent of the bank's loan book is linked to the MCLR, while the rest is external benchmark-based. He had also made it clear that the deposit rates have peaked in the system and the bank will not use rate as a pull factor for the customer. SBI has also upped the MCLR in the three- and six-month tenors, and maintained it in the overnight, one month, two-year, and three-year tenors.

SBI short-term loan interest rates reduced as MCLR changed by 25 bps

The MCLR-based rates have been adjusted to fall within the range of 8.20% to 9.1%. The overnight MCLR is at 8.20%, while the rate for the one-month is reduced from 8.45% to 8.20%, a dip by 25 bps

SBI hikes MCLR by up to 10 bps, customer loans likely to become costlier

SBI executives said this revision is part of the process to pass on the increase in cost of funds to borrowers and protect margins

Loan EMIs to rise! SBI hikes MCLR by up to 10 basis points

According to the SBI website, only the overnight rate has remained unchanged. As of December 15, the MCLR for the one-year tenure has been raised to 8.65 per cent, up from 8.55 per cent

Will your EMI go up? ICICI Bank and Bank of India raise lending rates

ICICI Bank has increased its MCLR by 5 basis points for all tenures. According to ICICI Bank's official website, the overnight and one-month MCLR rates are now at 8.50 per cent

Banks may hike MCLR by 150 bps in FY24 amid tight liquidity: Report

RBI has raised policy repo rate by 250 basis points in stages to 6.5% in February 2023

SBI raises MCLR by 10 bps; increases deposit rates in some buckets

Lender announces decision after central bank last week raised the repo rate to 6.50%

SBI loans to get costlier as bank hikes key lending rate; Details here

Following the RBI MPC's repo rate hike earlier this month, many banks like Bank of Baroda, Bank of India, and Punjab National Bank have also hiked their key lending rates

Kotak Mahindra increases 1-year MCLR rate by 10 bps, hikes for other tenors

For other tenor loans ranging from overnight to three year, the revised rates are in the range of 7.80-9.05%, according to Kotak

Bank of Baroda increases MCLR rate by up to 15 bps across tenors

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. 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. 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.

Setback for realty developers as SC recalls order capping interest rate

With the recent order, the way has been unlocked for the government authorities to get the land dues worth Rs 40,000 crore from the defaulters which were pending for years

Bank of Maharashtra raises one-year MCLR by 10 bps for select tenor loans

State-owned Bank of Maharashtra on Wednesday said it has increased its marginal cost of funds based lending rate (MCLR) for select tenor loans. The benchmark one-year MCLR, used to price most of consumer loans such as auto, personal and home, has been revised upwards to 7.90 per cent from 7.80 per cent, the lender said in a regulatory filing. The revised MCLR has come to effect from November 7, 2022. The one-month MCLR has been raised by 5 basis points to 7.50 per cent. Rates for other tenor loans like overnight, three and six months have been kept unchanged. Bank of Maharashtra stock traded at Rs 24.25 apiece on BSE, up by 4.08 per cent.

Indian Overseas Bank, Bank of Maharashtra hike MCLR by up to 25 bps

One-year median MCLR of scheduled commercial banks has increased from 7.75 per cent in September

DCB Bank raises MCLR rates across tenors by 27 basis points to 10.23%

Private sector DCB Bank has revised upwards the marginal cost of funds-based lending rate by 27 basis points across tenors. The revised rates will come to effect from November 5, 2022, DCB Bank said in a regulatory filing on Friday. The benchmark one-year MCLR rate will be priced at 10.23 per cent from Saturday against the existing rate of 9.96 per cent. The one-year tenor MCLR is used to price most of the consumer loans, such as housing, auto and personal. The one, three and six-month tenor MCLRs will be 9.63 per cent, 9.79 per cent and 10.02 per cent, respectively. While the overnight tenor MCLR will be 9.58 per cent.