The lending rate for one-month tenor loans will now be 8.15 per cent, 3 months (8.25 per cent), 6 months (8.35 per cent) and one year (8.50 per cent). The Reserve Bank of India has increased repo rates by 2.25 per cent since May last year. The benchmark interest rate now stands at 6.25 per cent after the latest round of repo rate hike of 35 basis points on December 7, 2022. Bank of Baroda Hikes Lending Rate by Up to 35 Basis Points, Loan EMIs to Get Costlier.