kvb interest rate: Karur Vysya Bank: Interest increase for customers .. This is the new rate! – private lender karur vysya bank hikes base rate by 40 bps from June 13th 2022

Private sector lender Karur Vysya Bank has hiked the base rate for loans by 0.40%. Karur Visaya Bank has announced that the new interest rates will come into effect from June 13.

According to Karur Visaya Bank, the base rate has been hiked to 8.75 per cent from 8.35 per cent. In addition, the BPLR rate has been raised from 13.35 per cent to 13.75 per cent.

If the base interest rate on loans is raised, the EMI amount paid by the borrower will increase. The Reserve Bank recently raised the repo rate. The repo rate was raised to cope with the sharp rise in inflation and rising prices.

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Subsequently, various public and private sector banks have been raising the base interest rate on loans. In this line, Karur Visaya Bank has also raised the base interest rate on loans.

Karur Visaya Bank charges 7.15% to 9.35% interest on home loans. Personal loans carry an interest rate of 8.70% to 11.70%. Personal loans carry an interest rate of 8.70% to 11.70%.

Four-wheeler loans carry an interest rate of 7.80% to 8.10%. Two-wheeler loans carry an interest rate of 14% to 16%. Jewelry loans carry 9.5% to 10% interest.