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Taking loan from Bank of Baroda became expensive, know how much the bank increased MCLR

Bank of Baroda News: There is a worrying news for the customers of Bank of Baroda because taking loan from Bank of Baroda will become expensive from Tuesday i.e. tomorrow. Bank of Baroda has informed the stock market about this.

Know how much Bank of Baroda’s MCLR has increased
Public sector Bank of Baroda-BoB on Monday said that it has increased the marginal cost of funds based lending rates i.e. Marginal Cost of Lending Rates (MCLR) by 0.05 per cent with effect from April 12, 2022. Under this, the MLCR will increase to 7.35 percent for a period of one year.

Bank of Baroda hikes MCLR by 0.05 per cent for all tenors
The bank told the stock market that it has approved the review of MCLR, which will be effective from 12 April 2022 i.e. tomorrow.

Auto loan, car loan, personal loan can be expensive
Similarly, the MCLR for one night, one month, three months and six months has been increased by 0.05 per cent to 6.50 per cent, 6.95 per cent, 7.10 per cent and 7.20 per cent, respectively. An increase in the one-year MCLR can make personal loans, auto loans and home loans costlier.

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