loans
| March 31, 2024, 9:33 a.m.
Bank of India Raises Lending Rate, Loans to Become Costlier
Bank of India has decided to raise its lending rates by 10 basis points, making loans, including retail ones, more expensive for borrowers. The adjustment in lending rates precedes the upcoming monetary policy announcement by the Reserve Bank of India. Effective from April 1, the new rate hike will increase the repo-based lending rate to 9.35 per cent. Additionally, Indian Bank has also raised its lending rates by 5 basis points, with the new rates set to be effective from April 3.
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