From The country's largest bank SBI, it has become costlier to take home loans, car loans and other loans on MCLR from April 15. Yes and the reason for this is that the State Bank of India (SBI) has increased the interest rate on all term loans taken at the marginal cost of lending rate (MCLR) by 0.10 per cent. The notification issued on the bank's website says that this increase in MCLR will be effective from April 15. In fact, the bank has increased the one-day, one-month and three-month MCLR from 6.65 per cent to 6.75 per cent.
With this, MCLR for six months to 6. It has increased from 95 per cent to 7.05 per cent. The country's largest lender has increased the one-year MCLR from 7 per cent to 7.10 per cent. The two-year MCLR has been increased from 7.20 per cent to 730 per cent and the three-year MCLR has been increased from 7.30 per cent to 7.40 per cent. Amidst all this, the Bank of Baroda has also increased the MCLR by 0.05 per cent on all-term loans. Yes, and this increase has become effective from April 12.
The public sector bank gave this information in the exchange filing. In this regard, the bank said that the MCLR has been increased to 7.35 per cent for a period of one year. With this, the MCLRs of one day, one month, three months and six months have been increased to 6.50 per cent, 6.95 per cent, 7.10 per cent and 7.20 per cent respectively.
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