Public sector lender, Canara Bank has hiked its MCLR rates across tenors by up to five basis points. Further the Repo Linked Lending Rate (RLLR) was also revised and now stood at 9.25% with effect from August 12, 2023. Read below to know what are the new rates.
ICICI Bank, Punjab National Bank, and Bank of India have revised their marginal cost-based lending rate (MCLR) on loans across tenures. The revised interest rates are effective from August 1, 2023, as per the bank websites.
While the median one-year MCLR has bene increased 140 bps since April, the repo rate used to price retail loans has been raised by 250 bps in the same period