Last Update: January 03, 2023, 11:39 AM IST
Most consumer loans, including auto, personal and home loans, have a fixed one-year rate.
Most consumer loans, including auto, personal and home loans, have a fixed one-year rate. The benchmark prime lending rate has increased to 13.35 per cent.
State-owned Indian Bank on Monday hiked the marginal cost of funds-based lending rates (MCLR) by up to 25 basis points. According to the regulatory filing by Indian Bank, the revised rates are valid till January 3.
The Asset Liability Management Committee (ALCO) of the bank examined the Marginal Cost of Funds-Based Lending Rate (MCLR), Treasury Bills Linked Lending Rates (TBLR), Base Rates and Benchmark Prime Lending Rate (BPLR) and recommended increasing them at all levels. decided to. separate tenure.
Most consumer loans, including auto, personal and home loans, have a fixed one-year rate. According to the bank, the one month to six month MCLR rate increased by 20 basis points, while the overnight rate increased by 25 basis points to 7.75 per cent. It added that the new rate will be increased from 8.20 per cent to 8.30 per cent for one-year maturity.
Besides, the lender tweaked the Treasury Bill Benchmark Lending Rate (TBLR), which was earlier 6.40 to 6.85 per cent, for different tenors. The benchmark prime lending rate has increased to 13.35 per cent, while the base rate has increased by 25 basis points to 9.10 per cent.
Only residents, either singly or jointly with another resident citizen, are eligible for senior benefits. Premature withdrawal of retail rupee fixed deposits, including NRE and recurring deposits, will attract a penalty of 0.50% for all tenors for deposits under rupees with effect from June 1, 2022. 5 lakh for all periods and 1% for deposits of Rs. 5 lakhs and above.
Marginal Cost of Funds Based Lending Rates (MCLR) of South Indian Bank are applicable till December 20, 2022. The bank’s MCLRs are 8.35% for overnight, 8.40% for one month, 8.55% for three months, 8.75% for six months. , and 9.10% for one year.
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