Oriental Bank of Commerce has hiked its marginal cost of fund-based lending rate (MCLR) by 5-15 basis points across various tenors. The new rates will take effect from March 12. However, there will be no change in overnight MCLR which would remain at 8.10 per cent.
One year MCLR of the bank would go up to 8.50 per cent from 8.35 per cent now, said a release issued by the bank. Three months MCLR stands revised to 8.30 per cent from 8.20 per cent now and six months MCLR has been hiked to 8.45 per cent from 8.30 per cent.