Kotak Mahindra Bank increases lending rates by 10 bps across tenures

16 May 2023 , 03:30 PM

Private lender Kotak Mahindra Bank has hiked its MCLR rates by 10 basis points (bps) for different loan segments across various tenures.

As per bank’s website, the loan rates for various tenures ranges from 8.35% to 9.35% and these rates comes into effect from May 16.

Marginal Cost of Funds based Lending Rate of Kotak Mahindra Bank w.e.f. May 16

Tenor	Benchmark	Rate
Overnight	K-MCLR O/N	8.35%
One Month	K-MCLR 1M	8.60%
Three Month	K-MCLR 3M	8.75%
Six Month	K-MCLR 6M	9.00%
One Year	K-MCLR 1Y	9.20%
Two year	K-MCLR 2Y	9.20%
Three year	K-MCLR 3Y	9.35%