RBL Bank hikes MCLR by 5 bps across tenures

After the modification, the bank's lending rates fall between 8.75 and 9.95%

FPJ Web DeskUpdated: Monday, January 23, 2023, 11:19 AM IST
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RBL Bank hikes MCLR by 5 bps across tenures | Image: RBL Bank (Representative)

RBL Bank has hiked its marginal cost of funds-based lending rates by five basis points across tenures from Sunday, according to information on the bank's website.

After the modification, the bank's lending rates fall between 8.75 and 9.95%.

The private bank increased the MCLR across all loan tenures by 10 bps in December.

Banks must assess their lending rates monthly in accordance with Reserve Bank of India regulations, which are based on the marginal cost of capital.

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