In a region mired in conflict, it takes all the more courage, and perseverance to be the voice of the voiceless and to separate facts from propaganda. Help The Kashmir Monitor sustain so that we continue to be editorially independent. Remember, your contributions, however small they may be, matter to us.

BoB raises lending rates by up to 0.2%; home, auto and other loans to be expensive

New Delhi: Ahead of the monetary policy review, state-owned Bank of Baroda (BoB)ncreased its lending rates by up to 0.2 percent, a move that will make home, auto and other loans expensive.

The bank has revised the marginal cost of funds-based lending rate (MCLR) with effect , BoB said in a statement.


The MCLR for a three-month tenor increased to 8.50 percent from the existing 8.30 percent and for six-month maturity, it will go up to 8.70 percent from the current 8.50 percent.
Interest rate on one-year tenure will go up by 0.1 percent to 8.75 perc


Most of the retail loans are benchmarked against one-year MCLR.

The RBI is schedule to unveil its sixth bi-monthly monetary policy.