Karur Vysya Bank hikes lending rates, EMIs to go up
- As per the regulatory filing, Karur Vysya Bank's 1-year MCLR will be 9.05% from December 7 compared to the current rate of 8.80%. While the six-month MCLR will be at 8.95% from the current 8.70%.
Tamil Nadu-backed Karur Vysya Bank has increased the marginal cost of funds-based lending rates (MCLR) by 25 basis points across tenures. The new lending rates will come into effect on December 7, 2022. With the latest hike in MCLR, EMIs on various term loans at Karur Vysya Bank is likely to go up.
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