In a regulatory filing, the lender informed that the revised MCLR tenor will be effective from Wednesday.
The revised marginal cost of funds-based lending rate (MCLR) across various tenors would be effective from Wednesday, the lender said in a regulatory filing.
The overnight and one-month tenor MCLRs are raised by 0.10 per cent each while the three-month maturity bucket increased by 0.15 per cent or 15 basis points to 7.25 per cent.
The hike is in line with other peers following RBI raising its key lending rate last month.
RBI hiked repo rate, at which the central bank lends to banks, by 50 basis points to 5.4 per cent.
Source: Economic Times (with inputs from PTI)