The loan rate at ICICI Bank is increased by 15 basis points
Under the marginal cost of funds-based lending rate (MCLR) regime, rates have gone up for all tenors, making EMIs more expensive for borrowers whose loans were benchmarked against MCLR.
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The RBI is expected to boost interest rates later this week, therefore ICICI Bank, the second-largest lender in the private sector, increased its lending rates on Monday by 0.15 percent across all tenors.
Under the marginal cost of funds-based lending rate (MCLR) regime, rates have gone up for all tenors, making EMIs more expensive for borrowers whose loans were benchmarked against MCLR.
The ICICI Bank has raised its loan rate by 15 basis points.
Rates have increased for all tenors under the marginal cost of funds-based lending rate (MCLR) regime, increasing the cost of EMIs for borrowers whose loans were benchmarked against MCLR.
The second-largest lender in the private sector, ICICI Bank, raised all of its lending rates by 0.15 percent on Monday in anticipation of the RBI raising interest rates later this week.
Rates have increased for all tenors under the marginal cost of funds-based lending rate (MCLR) regime, increasing the cost of EMIs for borrowers whose loans were benchmarked against MCLR.
HDFC, a mortgage lender, raised its lending rate by 0.25 percent last week. In line with other businesses, Indiabulls Housing Finance Ltd. (IBHFL) increased its reference rates on housing loans and MSME loans by 25 basis points.
Beginning on August 1, the increased rates will apply to all new clients, and starting on August 5, they will apply to all current borrowers.
