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Axis Bank has increased its marginal cost of funds-based lending rates by 10 basis points across tenures as of Saturday, as per the information on the bank's website. The bank's loans will have updated interest rates that fall between 8.70 and 9.50%. The lender increased the MCLR across all tenures by 5 bps in January.
State Bank of India has hiked its marginal cost of funds-based lending rates by 10 basis points across tenures, effective today, according to information on the bank's website. Rates on the bank's loans will be in the range of 7.95-8.70%. The bank has also hiked the repo-linked lending rate and the external benchmark lending rate by 25 bps each to 8.75% and 9.15%, respectively, effective today.