DCB Bank raises MCLR rates across tenors by 27 bps The one-year tenor MCLR is used to price most of the consumer loans, such as housing, auto and personalPrivate sector DCB Bank has revised upwards the marginal cost of funds-based lending rate by 27 basis points across tenors. The revised rates will come to effect from November 5, 2022, DCB Bank said in a regulatory filing on Friday.
The benchmark one-year MCLR rate will be priced at 10.23 per cent from Saturday against the existing rate of 9.96 per cent.
The one-year tenor MCLR is used to price most of the consumer loans, such as housing, auto and personal.
The one, three and six-month tenor MCLRs will be 9.63 per cent, 9.79 per cent and 10.02 per cent, respectively. While the overnight tenor MCLR will be 9.58 per cent.
This story originally appeared on: India Times - Author:Tax Cognition