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MCLR and RLLR hike: The Reserve Bank of India is continuously increasing its interest rates to control inflation in India. In the review meeting held yesterday i.e. on December 7, 2022, RBI has once again increased the repo rate. This increase has been done by 0.35 percent. In such a situation, now it has reached 6.25 percent. It is worth noting that RBI has increased its repo rate for the 5th time in a row. There are many banks who have increased their RLLR and MCLR (Bank Hikes MCLR and RLLR) after the announcement of this increase. Let’s know about this.
Bank of India increased RLLR
The big public sector bank i.e. Bank of India has decided that it is increasing its repo linked lending rate by 0.35 percent. After such an increase, it has increased from 8.75 percent to 9.10 percent. These new rates have come into effect from tomorrow i.e. 7 December 2022 itself.
HDFC Bank increased MCLR
HDFC Bank has increased its lending rates. The bank has increased its MCLR by 35 basis points. The new rates have come into effect from 7 December 2022. According to the official website of the bank, 1 month MCLR is 8.30 per cent, 3 months MCLR 8.35 per cent, 6 months MCLR 8.45 per cent, 1 year MCLR 8.60 per cent, 2 years MCLR 8.70 per cent and 3 years MCLR is 8.80 per cent. Is.
Indian Overseas Bank increased MCLR, RLLR
Indian Overseas Bank has also increased its MCLR and RLLR rates. The bank has increased its MCLR by 15 to 35 basis points. IOB has increased the 1-year MCLR by 20 basis points to reach 8.25 per cent. At the same time, after an increase of 25 basis points in the 2-year MCLR, it has reached 8.35 percent. The 3-year MCLR has increased by 30 basis points to reach 8.40 per cent. 6 months MCLR has reached 8.15 percent, 3 months MCLR 8.00 percent, 1 month MCLR 7.70 percent and overnight MCLR 7.65 percent. At the same time, the bank’s RLLR has increased to 9.10 percent.
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