Three banks, including the State Bank of India (SBI) have raised their Benchmark Landing Rates by 10 BPS for three years loans.
This would mean for every Rs 100,10 paise, and for Rs one lakh, Rs 100 more would be charged from now onwards.
The State Bank of India, Punjab National Bank and ICICI Bank have raised their marginal cost of funds based lending rate (MCLR) by 0.1 per cent, a GoNews report said.
The new rule has taken effect from June 1, other banks may also revise their MCLR, GoNews reported.
This would affect common people and businesses as they would have to pay higher interests for loans.