South Indian Bank Also Increased The Loan Interest Rate

South Indian Bank also increased the loan interest rate, know by how much percentage other banks have increased so far.

Private sector South Indian Bank has increased the interest rates on marginal cost of funds-based lending rates by 0.20 percent.

Now the one-year MCLR rate of the bank has gone up to 8.35 percent. At the same time, the interest rate for the period of three months has become 7.95.

This increase will be applicable from Monday i.e. tomorrow, June 20. After the hike in the repo rate by the RBI, most of the banks have increased the interest linked to the loan.

Let us tell you that a few days ago RBI had increased the repo rate, after which many major banks in India have increased the interest rates of loans.

Recently SBI had also increased the interest rates. Before that many banks have increased their interest rate. Let us know which other banks have increased interest rates before this.

SBI.

SBI has increased the minimum interest rate on home loans to 7.55 percent. The new rates have come into effect from June 15.

According to the updated information on SBI’s website, the bank has increased its external benchmark-based loan rate (EBLR) to a minimum of 7.55 percent.

Earlier it was 7.05 percent. The bank has increased the Marginal Cost of Lending Rate- MCLR (MCLR) by 0.20 percent.

HDFC.

HDFC has increased its Retail Prime Lending Rate (RPLR) on housing loans with effect from June 10, 2022.

On this, its Adjustable Rate Home Loan (ARHL) has been benchmarked by 50 basis points. That is, customers taking a home loan by HDFC will now have to pay more EMI.

Bank Of Baroda.

Bank of Baroda has increased the interest rate on various loans linked to Baroda Repo Linked Lending Rate (BRLLR), which has become effective from June 9, 2022.

As per the website, the applicable BRLLR for retail loans is 7.40%.

Punjab National Bank.

The Repo Linked Lending Rate (RLLR) of Punjab National Bank has gone up to 7.40% with effect from June 9, 2022.

Bank of India.

Bank of India has also revised the rates. According to the website, the new interest rates are effective from June 08, 2022. The RBLR revised repo rate stands at 7.75% as per 4.90%.

ICICI.

ICICI Bank has changed its External Benchmark Lending Rate with effect from 8 June 2022. The bank has increased it by 50 basis points to 8.60 percent. Earlier it was 8.10 percent.