Tag: MCLR

Loans & Advances

SBI, ICICI, PNB Raises MCLR Lending Rates, Loan EMI to Cost More Now

by Askbanking Loans & AdvancesLeave a comment

Bank’s MCLR Rates Hike – Top three lenders in India SBI, ICICI, PNB bank has raised their MCLR lending rates by 0.1% making loans costlier for consumers. Increased Interest Rates are effective from 01st June. MCLR (marginal cost of funds based lending rate) is the interest rate whichis applicable mainly on Housing and Car Loan. With […]

Banking News Loans & Advances

Basic Details of Marginal Cost of Funds based Lending Rate (MCLR) By RBI

by Askbanking Banking News, Loans & Advances2 Comments

Marginal Cost of Funds based Lending Rate (MCLR) is a new lending rate introduce by Reserve Bank of India (RBI) which is to be implemented by 01-04-2016. MCLR will be the internal bench mark rate of the bank along with  existing lending rate system i.e. Base Rate from the Banking Industry. The sole reason the […]