Vijaya Bank revises lending rates upwards by up to 50 bps

Public Sector lender Vijaya Bank on Wednesday raised the marginal cost of funds-based lending rate (MCLR), the rate at which a bank lends to its consumers, for some tenors by up to 50 basis points.

The Pubic Sector Bank, in a filing to stock exchanges, said that the borrowing rate will be costlier by 50 basis points to 9.25 per cent for a loan of three year tenor. Whereas, one and two year loan terms will be costlier by 5 basis points and 35 basis points, respectively. It further added that the lending rates will be effective from July 5, 2018.

The Bank, however, did not change its rates for overnight, 1 month, 3 month and 6 month loan terms.

At 11:51 hours on Thursday, Vijaya Bank was trading at Rs. 51.15 per share, down Rs. 0.10 or 0.20 per cent on BSE. The stock opened at Rs. 51.45 and touched an intra-day high of Rs. 51.60 per share on BSE. The stock has a 52-week high of Rs 78.15 and a 52-week low Rs 48 per share on BSE. The stock attracted a traded volume of 24,933 shares on BSE.