NEW DELHI: State-owned Financial institution of India (BoI) has introduced a hike in lending fee by 10 foundation factors, a transfer which can make loans, together with retail, costly. The lending fee enhance comes forward of the financial coverage announcement by the Reserve Financial institution of India on April 5.
The brand new fee can be efficient from April 1, BoI mentioned in a regulatory submitting on Saturday.
The financial institution has elevated the mark-up by 10 bps from the prevailing stage of two.75 per cent to 2.85 per cent, and with the current repo fee of 6.5 per cent, the repo-based lending fee (RBLR) shall be 9.35 per cent, it mentioned.
In the meantime, in a separate submitting, one other public sector lender Indian Financial institution has hiked the lending fee linked to base fee and Benchmark Prime Lending Fee by 5 foundation factors.
The brand new charges are efficient from April 3 within the case of the Indian Financial institution.
The brand new fee can be efficient from April 1, BoI mentioned in a regulatory submitting on Saturday.
The financial institution has elevated the mark-up by 10 bps from the prevailing stage of two.75 per cent to 2.85 per cent, and with the current repo fee of 6.5 per cent, the repo-based lending fee (RBLR) shall be 9.35 per cent, it mentioned.
In the meantime, in a separate submitting, one other public sector lender Indian Financial institution has hiked the lending fee linked to base fee and Benchmark Prime Lending Fee by 5 foundation factors.
The brand new charges are efficient from April 3 within the case of the Indian Financial institution.
