Vijaya Bank raises MCLR by 0.05% on select maturities

State-owned Vijaya Bank has hiked marginal cost based lending rates (MCLR) by 0.05 percent for select maturities, following industry peers.

The bank has revised the MCLR with effect from September 7, 2018, Vijaya Bank said in a regulatory filing.

The one-year MCLR, against which consumer loans are benchmarked, has been raised to 8.70 percent from 8.65 percent earlier.

Among others, six, three, one month and overnight MCLRs will attract 0.05 percent higher interest each in the range of 8.60-8.05 percent.

However, it has kept the MCLRs unchanged for three years and two-year loans at 9.25 percent and 9 percent, respectively.

Last week, industry leader SBI had increased the lending rate by 20 basis points or 0.20 percent across all tenors up to three years.

SBI's MCLR for a one-year tenor has been increased to 8.45 percent from 8.25 percent.

ICICI Bank and Bank of Baroda to have raised their MCLRs.