Attention bank customers: Loan EMIs to go up as Bank of Baroda hikes lending rates by 5 bps

The Bank of Baroda on Friday announced hike in lending rates by 5 basis points (bps) on 3-month, 6-month, and 1-year tenures, with effect from August 12, 2024. As peer the regulatory filing by the bank on August 9, the bank said it has reviewed/ changed marginal cost of funds based lending rate (MCLR) with effect from August 12, 2024. With the latest hike in the marginal cost of funds-based lending rates (MCLR), the loan EMIs will increase for borrowers.