Federal Bank has hiked the marginal cost of funds-based lending rate by 20 basis points across tenures, effective today, according to the bank’s website.
After the modification, the rates are between 8.95 and 9.20 percent.
Read More: Punjab and Sind Bank ups MCLR on most tenures by 15-25 bps from today
The private lender had increased the loan rate across tenures by 30 bps in December.
Banks must assess their lending rates monthly in accordance with Reserve Bank of India regulations based on the marginal cost of funds.
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