Bank of Baroda has once again made it expensive to take loans. Bank of Baroda has increased the SCLR rates for the customers. The bank has increased its SCLR by 10 to 15 basis points.
New Delhi. If you have taken or are planning to take a loan from India’s leading public sector bank, Bank of Baroda, then there is a bad news for you. Bank of Baroda customers will have to pay more EMI on the loan taken. Which will also have an impact on his monthly budget.
Bank of Baroda again made loan expensive
Bank of Baroda has once again made it expensive to take loans. Bank of Baroda has increased the SCLR rates for the customers. The bank has increased its SCLR by 10 to 15 basis points. Due to this decision of Bank of Baroda, all types of loans like home loan, car loan and personal loan will become expensive. At the same time, the EMI of the customers who have already taken home loan will become more expensive.
What happened to the new MCLR rates of the bank
Let us inform that, this increase in MCLR rates by the bank has become effective from 12th July i.e. from today itself. The bank has increased the MCLR rate from 7.50 per cent to 7.65 per cent over a period of one year. At the same time, the MCLR rate has increased from 7.35 percent to 7.45 percent for a period of 6 months.
Whereas, the MCLR has increased from 7.25 per cent to 7.35 per cent over a period of three months. At the same time, no change has been made by the bank in the MCLR for one month and overnight period.
What is the repo lending rate of the bank
Let us tell you that the repo linked lending rate of Bank of Baroda is 7.45 percent. The home loan rate for non-staff member ranges from 7.45 per cent to 8.80 per cent. So the home loan rate for staff members is 7.45 percent. Bank of Baroda’s car loan is currently between 7.70 percent to 10.95 percent.
