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Business News » India News

Bank of Baroda hikes MCLR by 0.05 pc

Similarly, for one-month and three-month tenors the interest rates have been increased to 8.35 per cent and 8.45 per cent, respectively.

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Bank of Baroda hikes MCLR by 0.05 pc
Bank of Baroda (BoB) Saturday said it has hiked its marginal cost of funds based lending rate (MCLR) by 0.05 per cent with effect from May 7, Photo: Reuters

State-owned Bank of Baroda (BoB) Saturday said it has hiked its marginal cost of funds based lending rate (MCLR) by 0.05 per cent with effect from May 7.

BoB has hiked the lending rates for overnight tenor to 8.30 per cent from the previous 8.25 per cent.

Similarly, for one-month and three-month tenors the interest rates have been increased to 8.35 per cent and 8.45 per cent, respectively.

Rate for six-month tenor has been hiked to 8.65 per cent and one-year tenor to 8.70 per cent with effect from May 7, BoB said in a BSE filing. 

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Bank of BarodaMarkets
Written By: PTI
Updated: Sat, May 04, 2019
03:08 pm
New Delhi, PTI
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