Karnataka Bank revises up 1-year MCLR by 0.15%

The revised marginal cost of fund-based lending rate (MCLR) are effective from January 1, 2019, the bank said in a regulatory filing.

Karnataka Bank revises up 1-year MCLR by 0.15%

New Delhi: Private sector lender Karnataka Bank Tuesday said it has revised upward MCLR by 0.15 percent to 9.10 percent for one-year tenor.

The revised marginal cost of fund-based lending rate (MCLR) are effective from January 1, 2019, the bank said in a regulatory filing.

Among others, six-month and three-month MCLRs are revised upward by 0.10 percent each to 8.75 percent and 8.70 percent, respectively.

One-month and overnight MCLRs were also raised by 0.10 percent each, the bank said.

Karnataka Bank is now offering loan of up to Rs 75 lakh at an interest rate of 8.80 percent (linked to 6-month MCLR of the bank), it said further.

Another private sector lender Dhanlaxmi Bank said its 1-year MCLR stands at 9.90 percent, effective from January 1.