Bank Recent News: The bank periodically makes several decisions that directly impact millions of the nation’s clients. ICICI Bank, Punjab National Bank, and Bank of India have recently dealt customers a serious blow.
Bank Rates for MCLR The bank periodically makes a number of decisions that directly impact millions of the nation’s clients. ICICI Bank, Punjab National Bank, and Bank of India have recently dealt customers a serious blow. The MCLR rates have been raised by the bank. The bank’s new rates went into effect on December 1st.
What percentage have the rates risen?
The MCLR rates have increased by 10 basis points thanks to ICICI Bank. All loans will increase in cost as a result of the bank’s decision. In addition, PNB has grown by 0.05 percent. The Bank of India raised the rate to 0.25 percent.
What happened to ICICI Bank’s rates?
The private sector ICICI Bank’s overnight and monthly rate has increased from 8.05% to 8.15%. In addition, the rate for the next three months has gone up from 8.10 to 8.20 percent. If we discuss the rates for a period of six months, we find that they have gone up from 8.35 percent to 8.40 percent.
New PNB rates
When it comes to Punjab National Bank’s rates, the overnight rate has gone up from 7.40 to 7.45 percent. The one-month rate has also gone up, from 7.45 percent to 7.50 percent. When it comes to the 3-month rate, it has also gone up from 7.55 to 7.60 percent. Regarding the rates, they are 7.80 percent for six months and 8.10 percent for a year.
New rates from the Bank of India
The overnight rates of the Bank of India were raised from 7.05 percent to 7.30 percent. The one-month rate has also gone up, from 7.40 percent to 7.65 percent. In addition, the rate for the next three months has gone up from 7.45 to 7.70 percent. If we consider the rate over a period of six months, the rate over a year is now 7.90% and 8.15%.
