The equated monthly installments are set to rise further as ICICI Bank and Bank of India have revised their marginal cost-based lending rate (MCLR) on loans across tenures. Punjab National Bank, on the other hand, has kept its basic lending rates at the same level. Watch Business Today s Visual Story to note the revised lending rates.
After the latest hike, the HDFC Bank’s overnight MCLR is 7.95 per cent, while the MCLR for one month is 8.10 per cent. The three-month and six-month MCLRs are at 8.40 per cent and 8.80 per cent, respectively.