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विदिओ च सर्व मातेरीअल लिंक खाली दिलेले आहेत खाली गेल्यावर ३० सेकंद थांबा मग सर्व मातेरीअल लिंक येतील
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Public sector Bank of Baroda has given a big blow to its customers on Tuesday. Bank of Baroda has increased the MCLR (MCLR) by 30 basis points i.e. up to 0.30 per cent for different periods. Now taking a loan from the bank will become expensive. The new rates of the bank will be applicable from January 12, 2023. BOB has given this information in a regulatory filing.
The bank said the overnight MCLR rate has been increased by 35 basis points to 7.85 per cent, while the one-month tenor has been increased by 20 basis points to 8.15 per cent.
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BEAT MARK
Know how much increase
The three-month MCLR has been increased from 8.05 per cent to 8.25 per cent. The BoB said that among others, the six-month MCLR has been increased from 8.15 per cent to 8.35 per cent. The new rate has increased from 8.20 percent to 8.50 percent for a period of one year. The increase in MCLR will affect corporate borrowers.
Will have to pay more money every month
The EMI on term loan is expected to increase with the increase in MCLR. Most consumer loans are based on a one-year marginal cost based lending rate. In such a situation, personal loan, auto and home loan can become expensive due to increase in MCLR.
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SHAKE EFFECT
Due to this the loan is getting expensive
The Reserve Bank of India (RBI) said in a report in December last year that India’s banking sector remained resilient in 2021/22 and that lenders may have to hike deposit rates further to meet growth in credit demand. On December 7, the Reserve Bank of India announced an increase in the repo rate by 0.35 percent. After increasing the repo rate, banks have started increasing the Marginal Cost Based Lending Rate ie MCLR.
What is MCLR?
Significantly, MCLR is a method developed by the Reserve Bank of India, on the basis of which banks determine the interest rate for loans. Before that, all the banks used to fix the interest rate for the customers on the basis of base rate only.
