Home / Finance / News / Bank of Baroda hikes MCLR up to 30 basis effective December 12

Bank of Baroda hikes MCLR up to 30 basis effective December 12

The revised rates will be effective from December 12

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The benchmark one-year tenor MCLR has been raised by 25 basis points to 8.30 per cent

2 min read Last Updated : Dec 09 2022 | 10:18 PM IST

Public sector lender Bank of Baroda (BoB) has decided to increase its marginal cost of funds-based lending rate (MCLR) by up to 30 basis points (bps) across tenors. This hike by the Mumbai-based lender is steeper than compared upto 15 basis points upward revision made in November 2022.

The revised rates will be effective from December 12, 2022, BoB said in filing with BSE.

The benchmark one-year tenor MCLR has been raised by 25 basis points to 8.30 per cent. Last month it had hiked the rate by 10 basis points. The three-month MCLR has been raised to 8.05 per

Topics : Lending Rate Fixed Deposit Bank of Baroda Indian Banks Public sector public sector bank Banking sector profit margins Deposits in banks deposit rates

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