EMI of these banks will increase, check out
By Lokmat English Desk | Published: April 20, 2022 06:25 PM2022-04-20T18:25:29+5:302022-04-20T18:25:29+5:30
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Many large banks in the country have recently increased its MCLR. If you are also taking a home loan, car loan, or personal loan, the interest rate is bound to increase after MCLR increases. This will have a direct effect on your EMI.
State Bank of India (SBI) on Monday hiked the MCLR by 10 basis points (0.10 percent). As a result, all types of bank loans have become expensive.
Bank of Baroda has also hiked interest rates by 0.05 percent since April 12. This will increase the EMI of your loan.
अॅक्सिस बँकेनेही आपल्या कर्जाच्या व्याजदरामध्ये वाढ केली आहे. बँकेने एमसीएलआरमध्ये ०.०५ टक्क्यांची वाढ केली आहे. वाढलेले व्याजदर १८ एप्रिलपासून लागू झाले आहेत.
Kotak Mahindra Bank has also pushed the borrowers by increasing the MCLR. The increased rates from the bank have come into effect from April 16.
MCLR is a parameter by which the interest rate is determined on the basis of any bank's internal expenses and required funds.
