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HDFC Bank, BoM, Karur Vysya hike lending rates

The overnight MCLR at HDFC Bank now stands at 7.15 per cent, the one-month rate is at 7.2 per cent, the three-month rate at 7.25 per cent, the six-month MCLR at 7.35 per cent, the one-year MCLR at 7.5 per cent, the two-year MCLR at 7.6 per cent and the three-year MCLR at 7.7 per cent.

Written by Shritama Bose | Mumbai |
May 10, 2022 1:15:02 am
Meanwhile, as per a PTI report, state-run Bank of Maharashtra (BoM) said it has raised the MCLR across tenures by 0.15 per cent. (File)

HDFC Bank said it has raised its marginal cost of funds-based lending rate (MCLR) by 25 basis points (bps) across tenors, with effect from May 7.

The overnight MCLR at HDFC Bank now stands at 7.15 per cent, the one-month rate is at 7.2 per cent, the three-month rate at 7.25 per cent, the six-month MCLR at 7.35 per cent, the one-year MCLR at 7.5 per cent, the two-year MCLR at 7.6 per cent and the three-year MCLR at 7.7 per cent.

Meanwhile, as per a PTI report, state-run Bank of Maharashtra (BoM) said it has raised the MCLR across tenures by 0.15 per cent. Effective May 7, the benchmark one-year MCLR, against which most personal, auto and home loans are linked, has been raised to 7.40 per cent from 7.25 per cent earlier, BoM said. Further, Indian Overseas Bank said it has hiked its repo linked lending rate (RLLR) to 7.25 per cent from May 10.

Private sector Karur Vysya Bank said it has revised the external benchmark rate repo-linked EBR-R from May 9 to 7.45 per cent from 7.15 per cent. FE

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