DCB Bank raises MCLR rates across tenors by 27 basis points

Private sector DCB Bank has revised upwards the marginal cost of funds-based lending rate by 27 basis points across tenors.

The revised rates will come to effect from November 5, 2022, DCB Bank said in a regulatory filing on Friday.

The benchmark one-year MCLR rate will be priced at 10.23 per cent from Saturday against the existing rate of 9.96 per cent.

The one-year tenor MCLR is used to price most of the consumer loans, such as housing, auto and personal.

The one, three and six-month tenor MCLRs will be 9.63 per cent, 9.79 per cent and 10.02 per cent, respectively. While the overnight tenor MCLR will be 9.58 per cent.