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Tamil Nadu-Based Bank Hikes Base Rate, BPLR On Loans By 5 Bps, Will EMIs Go Up?

Karur Vysya Bank's decision to raise its base rate and benchmark prime lending rate (BPLR) could have significant implications for borrowers, potentially leading to higher Equated Monthly Installments (EMIs). Effective March 13, 2024, this move aligns with the bank's strategy to ...

UCO Bank Revises Lending Rates Across Tenures, 1 Year MCLR At 8.75%; Check New Rates Here

State-owned UCO Bank has revised the marginal cost of funds-based lending (MCLR) rate. The revised MCLR rate of UCO Bank is effective from December 10, 2023. The Indian public sector has however kept the treasury bill-linked lending rates (TBLR), repo-linked rate, ...

SBI Hikes Base Rate By 0.1 Per Cent

Country's largest lender State Bank of India (SBI) has increased benchmark lending rate or base rate by 0.1 per cent, a move that may be followed by other lenders. With the increase the revised base rate is 7.55 per cent, as ...

What Is MCLR? How Is It Different From Base Rate?

Marginal Cost of fund-based Lending Rate (MCLR) is the minimum interest rate below which a bank cannot lend to its customers, other than in cases of special exceptions that are approved by the Reserve Bank of India (RBI). It is an ...

PNB Reduces Lending Rates From March 1

On Wednesday, the state-run Punjab National Bank said it will lower down its MCLR or marginal cost based lending rate by 0.1% for different tenures from March 1. In a regulatory filing, the bank said there is a reduction in the ...

MCLR Regime For Lending Interest Determination May Be Phased Out

As the marginal cost of funds based lending rate does not seen to provide any effective change of rates, the review of MCLR guidelines is on the offing. Also, this shall be done in order to foster competition as well as ...

Reasons Why Lending Rates May Still Increase Despite RBI's Status Quo

Though the monetary policy committee headed by RBI Governor Urjit Patel kept key policy rates unchanged while revising its GDP growth estimates higher and lowering inflation forecast, many of the experts see lending rates to increase in the short to medium ...

Bank Of Baroda Hikes Lending Rate; Loans To Get Expensive

Bank of Baroda on Friday hiked its benchmark lending rate by 0.1% or 10 basis points. 1 basis point is one-hundredth of a percentage point. The announcement was made a day after RBI maintained status quo in its first monetary policy ...

Borrowers To Suffer As RBI Links Base Rate To MCLR

The Reserve Bank of India directive asking banks to link base rate to marginal cost of funds-based lending rate with effect from April 1, 2018 is likely to hurt home loan borrowers. Though, the central bank aimed to benefit customers from ...

SBI Increases Base And BPLR Rate By 5 bps; Home Loans To Get Expensive

After hiking its marginal cost of funds-based lending rates (MCLR) by up to 25 basis points (bps), India's largest bank SBI has increased its base rate and benchmark prime lending rate by 5 bps. A basis point is one-hundredth of a ...

Home Loans Taken Up to March 2016 May Become Cheaper

As Reserve Bank of India (RBI) asks banks to link base rate to Marginal Cost of Funds based Lending Rates (MCLR) from 1st of April 2016, loans prior to that will be cheaper. MCLR is the minimum interest rate set for ...

Against SBI's Lending Rate Cut By 30 Bps, Axis Bank Ups MCLR By 5 Bps

Only a few days after the state-run lender thought it wise to effect rate cuts by a huge 30 basis points to pass on the key interest rate to the end consumer, Axis bank upped its MCLR rate on the contrary ...

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