Country's largest lender on Friday said it raised the marginal cost of fund based lending rates by 0.10 per cent across various tenors.
The benchmark one-year tenor MCLR (Marginal Cost of Fund based Lending Rates), used for most of the consumer loans such as auto, home and personal, will now be 7.50 per cent, up from the 7.40 per cent previously, the bank said. The tenor-wise MCLRs are effective from July 15, 2022, it added.
Among other tenor loans ranging from overnight to six-month, the MCLRs have been raised in the range of 7.15-7.45 per cent, up by 0.10 per cent each.
The two-year and three-year MCLRs will now be priced at 7.70 per cent and 7.80 per cent, respectively.
