After RBI hike, many banks including State Bank Of India, PNB, ICICI Bank, Bank Of BarodaBank of India, and Mortgage Lenders HDFC Ltd. has increased its loan interest rates. Yes Bank He has increased his MCLR. Here is a quick comparison of banks and NBFCs that have hiked lending rates after the RBI hike, and some banks that have also increased their MCLR.
hdfc loan rates
HDFC Ltd raised its loan interest rates on September 30, 2022.
According to a BSE notification by HDFC, “HDFC raises its Retail Prime Lending Rate (RPLR) on housing loans, on which its Adjustable Rate Home Loans (ARHL) is benchmarked, by 50 basis points with effect from October 1, 2022.”
According to HDFC’s website, the retail prime lending rate is 17.95%.
with an increase in home loan interest rateThe EMI deducted from your bank account every month also increases.
icici bank loan rates
ICICI Bank announced an increase of 50 basis points (bps) in its external benchmark lending rate (100 bps = 1%). The bank has also increased the marginal cost of funds lending rate (MCLR). According to the bank’s website, “ICICI Bank External Benchmark Lending Rate” (I-EBLR) is referred to the RBI policy repo rate with a mark-up higher than the repo rate. I-EBLR is 9.25% ppm with effect from 30th September, 2022.”
In terms of MCLR, the bank increased the interest rate by 10 basis points.
SBI Loan Rates
SBI has increased its external benchmark lending rate (EBLR) and repo linked lending rate (RLLR) by 50 basis points (bps). SBI’s EBLR is 8.55% and RLLR is 8.15% with effect from 1 October 2022.
PNB Lending Rates
Punjab National Bank (PNB) has increased the interest rate on housing loans. The bank increased the repo-linked lending rate (RLLR) by 50 basis points (100 bps = 1%) from 7.70% to 8.40%.
In addition, the bank has increased the Marginal Cost of Funds Lending Rate (MCLR) by 0.05% across all tenors. The bank announced a hike of 5 basis points in the base rate. According to the bank’s website, “The base rate has been revised from 8.75% to 8.80% with effect from 01-10-2022.”
Bank Of Baroda Loan Rates
Bank of Baroda has revised the repo-linked lending rate with effect from October 1, 2022. According to the website, “As per the guidelines issued by the Reserve bank of india With regard to the implementation of external benchmark based lending rates. The Bank has introduced Baroda Repo Linked Lending Rate (BRLLR) in respect of all retail loan products with effect from 01.10.2019. Rate of interest on various loans linked to Baroda Repo Linked Lending Rate (BRLLR) – with effect from 01.10.2022. The applicable BRLLR for retail loans is 8.45% w.e.f. 01.10.2022 (Current RBI Repo Rate: 5.90% + Markup / Base Spread 2.55%).”
bank of india loan rates
According to Bank of India website, “RBLR is 8.75% as per Revised Repo Rate (5.90%) with effect from 30/09/2022.” The bank has also increased the MCLR by 10-20 basis points over certain tenors. The latest MCLR rates with effect from October 1, 2022 are given below: The Bank has also increased its Base Rate by 0.20%. “Bank rate of the bank has been revised from 9.00% p.a. 8.80% p.a. Wef 01.10.2020,” the bank’s website said.
Yes Bank Lending Rates
Yes Bank has announced that it has revised the marginal cost of funds-based lending interest rates (MCLR) on loans with effect from October 1, 2022. Yes Bank’s base rate is 9.25% with effect from October 1, 2022
