Latest loan interest rates of Bank of Baroda, Canara bank, Bank of Maharashtra
The stance of RBI's monetary policy and the policy rates remained unchanged. The RBI maintained its position of «withdrawal of accommodation» and left the repo rate unchanged at 6.5%.
The changes in MCLR, will make EMIs linked to MCLR expensive. Most of the banks one year MCLR is linked to consumer loans.
Also read:HDFC Bank hikes base rate, interest rates on these loans; check latest rates
Bank of Baroda
Bank of Baroda revised its latest marginal cost of funds-based lending rates (MCLR). These rates are kept unchanged from previous rates. The rates will be effective from October 12, 2023.
The bank's overnight marginal cost of funds-based lending rate (MCLR) will be 8%. For one-month, three-month, and six-month terms, BoB applies 8.25%, 8.35%, and 8.45% MCLR, accordingly. The one year MCLR stands at 8.70%.
Also read: Loan interest rates for October 2023: ICICI Bank, PNB, Yes Bank revise these loan interest rates
Canara Bank
Canara Bank revised its latest marginal cost of funds-based lending rates (MCLR). The rates will be effective from October 12, 2023. These rates are kept unchanged from previous rates.
The one-month MCLR rate stands at 8.05%. The three-month MCLR rate at 8.15 percent. Furthermore, the bank offers six-month MCLR rate at 8.5% The year-on-year MCLR rate to 8.7 percent.
According to the bank website, “Rates of Interest of all Retail Lending Schemes are linked to REPO LINKED LENDING RATE (RLLR) OF THE BANK – 9.25%* w.e.f 12.10.2023.”
“*The reviewed rate will be
