EMIs on loans likely to rise as this public sector bank hikes lending rate by up to 0.35%
The Reserve Bank of India has increased repo rates by 2.25 per cent since May last year. The benchmark interest rate now stands at 6.25 per cent after the latest round of repo rate hike of 35 basis points on December 7, 2022.
The new rates will be effective from January 12, 2023, BoB said in a regulatory filing. Pic: Reuters