Kotak Mahindra Bank Loan Interest rates increased! After Axis and SBI, Kotak Mahindra Bank also made loans so expensive, see new rates

Before Kotak Mahindra Bank, SBI has made loans costlier by 10 basis points and Axis Bank by 5 basis points. This will have a direct impact on the customers of the bank and taking a loan from the bank will now become more expensive.

New Delhi. Kotak Mahindra Bank has increased the Marginal Cost Lending Rate (MCLR) by 5 basis points. According to the bank’s website, the new rates are applicable from April 16. After this, most of the loans given by the bank have become expensive. Now the overnight MCLR rate of the bank is 6.65 percent and the one-year MCLR rate is 7.4 percent. Recently, State Bank of India and Axis Bank also increased the MCLR rate.