Bank MCLR Rates: Bank of Baroda, Canara Bank and Bank of Maharashtra have increased the MCLR rates, after which the EMI of customers having accounts in these banks will increase.
Bank EMI: The Reserve Bank of India had given its verdict on the policy rates yesterday i.e. on Thursday and today many banks have increased the interest rates. This includes public sector banks.
If you also have an account with any of these banks, then your EMI is going to increase. Let us tell you that Bank of Baroda, Canara Bank and Bank of Maharashtra have increased the MCLR rates, after which the EMI of the customers having accounts in these banks will increase.
RBI did not increase interest rates
Let us tell you that these banks have increased the interest rates by 10 basis points. At the same time, this time the Reserve Bank of India did not make any change in the interest rates in the monetary policy. This time the interest rates have been kept constant at 6.5 per cent. Public sector banks have increased the interest rates even after the RBI did not increase the interest rates.
New rates will be applicable from tomorrow,
due to this move of banks, the monthly installment (EMI) related to MCLR will increase. Bank of Baroda has told the stock market that the one-year MCLR has been revised to 8.70 percent. At the same time, earlier this rate was 8.65 percent. BoB has told that the new rates will be effective from 12 August.
Canara Bank also increased the rates
Apart from this, Canara Bank has also increased the MCLR rates. Canara Bank has increased the interest rates by 0.05 percent, after which the rate of interest in Canara Bank has increased to 8.7 percent. Canara Bank rates will also be applicable from August 12.
Bank of Maharashtra also increased
Bank of Maharashtra, another public sector lender, has increased the MCLR by 0.10 percent. Bom told the stock market. With this, the one-year MCLR has increased from 8.50 per cent to 8.60 per cent. The revised rates are effective from 10 August.
