SBI, Kotak, Federal Bank revise lending rates based on marginal cost of funds

SBI has revised the MCLR for the benchmark one-year tenor to 7.95 per cent, up by 25 basis points from previous rate. Kotak Mahindra Bank said the MCLR for various tenors has been set in the range of 7.70-8.95 per cent with effect from October 16, 2022. South-based Federal Bank said its one-year MCLR on loans and advances has been revised to 8.70 per cent with effect from October 16.

from Banking/Finance-Industry-Economic Times https://ift.tt/AFqdcL8