Repo hike: List of banks that have hiked loan rates..!?
Hours after the RBI hiked the repo rate by 50 basis points, several private lenders including icici bank and state-owned punjab National bank have hiked interest rates on various loans. Due to this, some famous banks including icici bank have increased the loan interest rate. Let's see about this now.
ICICI Bank:
The external benchmark lending rate has now been raised to 9.10%, icici bank said in a statement after the repo rate hike. It has also been announced that the interest rate hike will be effective from august 5. icici bank this month revised the Fund Based Lending Rate (MCLR) to 0.15% for all tenors.
Punjab National Bank:
Punjab National bank said the hike in repo rate has raised the external benchmark lending rate to 7.90%. As a result of RBI's increase in repo rate, the Repo Linked Lending Rate (RLLR) has been revised from 7.40% to 7.90% with effect from august 8, i.e. today, punjab National bank said in a statement.
A-Rated corporate Loan:
Also, lending rates linked to the repo rate for corporates, including non-banking financial institutions (NBFCs) and A-rated corporate borrowers, state and central government guaranteed institutions have also been increased, punjab National bank said.
Bank of Baroda:
In a statement, the bank of Baroda announced that retail loans eligible under its repo-linked lending rate will henceforth carry an interest rate of 7.95 percent. bank of Baroda said lending rates for one year to less than three years will range from 7.40 percent to 7.80 percent.
Other Banks:
After the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india hiked the repo rate, other banks including sbi are expected to announce interest rate hikes.
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