Punjab and Sind Bank has hiked its marginal cost of funds-based lending rates by 15-25 basis points on most tenures, effective today, according to information on the bank's website.
The lender has not increased the rates for loans with a one-month term. Loan interest rates would vary from 7.30 to 8.30% after the modification.
The state-owned bank increased the marginal cost of funds-based lending rate across all loan tenures by 10-15 bps in December.
Banks must assess their lending rates monthly in accordance with Reserve Bank of India regulations based on the marginal cost of funds.
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