The leading public sector lender Bank of Baroda (BoB) has hiked MCLR (marginal cost of funds based lending rate) by 10-20 bps across all tenors. The revised MCLR will take effect on June 12, 2022.
The overnight MCLR rate has been raised from 6.60 per cent to 6.80 per cent, a 20 basis point increase. MCLR for one month has been raised from 7.05 per cent to 7.20 per cent, a 15 basis point increase.
The 3 Month MCLR rate has been raised from 7.15 per cent to 7.25 per cent, a 10 basis point increase, and the 6 Month MCLR rate has been raised from 7.25 per cent to 7.35 per cent, a 10 basis point increase.
The interest rate on the 1-year MCLR has been raised from 7.40 per cent to 7.50 per cent.