IDBI Bank raises lending rates by up to 10 bps
Mumbai: State-run IDBI Bank today said it has increased it lending rates between 5 to 10 basis points for a few tenures, effective from July 12.
The bank has increased its one-year marginal cost of funds based lending rates (MCLR) by 10 basis point to 8.75 per cent from 8.65 per cent.
The six month MCLR has been raised by five basis points to 8.50 per cent from 8.45 per cent. The three-month and three year lending rates have been kept unchanged at 8.35 per cent and 8.80 per cent, respectively.
The bank, however, reduced its overnight MCLR by five basis points to 7.95 per cent from 8 per cent.
Base rate of the bank has been increased to 9.60 per cent from 9.50 per cent.