<p>ICICI Bank and India Bank on Tuesday raised their benchmark lending rate by up to 35 basis points which will make loans costlier for the borrowers.</p>.<p>Private sector lender ICICI Bank increased the Marginal Cost of Funds based Lending Rates (MCLR) across tenure by 20 basis points effective November 1.</p>.<p>The one-year MCLR now stands at 8.30 per cent, as per the information posted on the bank's website.</p>.<p>Similarly, the six-month MCLR is now 8.25 per cent.</p>.<p>Public sector lender Indian Bank raised the overnight MCLR by 35 basis points to 7.40 per cent.</p>.<p>The Asset Liability Management Committee (ALCO) of the bank has reviewed the MCLR and the new rates are effective from November 3, Indian Bank said in a regulatory filing.</p>.<p>The one-year MCLR rate has been increased to 8.10 per cent.</p>.<p>The one-year MCLR is considered important from the retail loans perspective as a bank's long term loans like home loans are linked to this rate.</p>
<p>ICICI Bank and India Bank on Tuesday raised their benchmark lending rate by up to 35 basis points which will make loans costlier for the borrowers.</p>.<p>Private sector lender ICICI Bank increased the Marginal Cost of Funds based Lending Rates (MCLR) across tenure by 20 basis points effective November 1.</p>.<p>The one-year MCLR now stands at 8.30 per cent, as per the information posted on the bank's website.</p>.<p>Similarly, the six-month MCLR is now 8.25 per cent.</p>.<p>Public sector lender Indian Bank raised the overnight MCLR by 35 basis points to 7.40 per cent.</p>.<p>The Asset Liability Management Committee (ALCO) of the bank has reviewed the MCLR and the new rates are effective from November 3, Indian Bank said in a regulatory filing.</p>.<p>The one-year MCLR rate has been increased to 8.10 per cent.</p>.<p>The one-year MCLR is considered important from the retail loans perspective as a bank's long term loans like home loans are linked to this rate.</p>