Latest Marginal Cost Of Funding-Based Lending Rates Of SBI, Other Banks Compared

Several banks have announced marginal hikes in their MCLR or marginal cost of fund-based lending rates so far this month. MCLR is the key rate below which a bank cannot lend. State-run banks SBI (State Bank of India) and PNB (Punjab National Bank) and private sector lender ICICI Bank hiked MCLRs to the tune of 10 basis points (bps) in early June, days ahead of the Reserve Bank of India's bi-monthly policy statement. Another PSU bank, Bank of Baroda, followed with an increase of five basis points in its MCLR. After the central bank announced its first hike in repo rate in over four-and-a-half years on June 6, more banks - including Syndicate Bank, Oriental Bank of Commerce and Bank of India - raised their MCLR.

Here are the MCLR of different banks, after the latest round of hikes:

Several banks have announced marginal hikes in their MCLR or marginal cost of fund-based lending rates so far this month. MCLR is the key rate below which a bank cannot lend. State-run banks SBI (State Bank of India) and PNB (Punjab National Bank) and private sector lender ICICI Bank hiked MCLRs to the tune of 10 basis points (bps) in early June, days ahead of the Reserve Bank of India's bi-monthly policy statement. Another PSU bank, Bank of Baroda, followed with an increase of five basis points in its MCLR. After the central bank announced its first hike in repo rate in over four-and-a-half years on June 6, more banks - including Syndicate Bank, Oriental Bank of Commerce and Bank of India - raised their MCLR.

Here are the MCLR of different banks, after the latest round of hikes: