This private bank changed loan interest rates, increased MCLR, new rates will be applicable from June 22

Private sector Karur Vysya Bank has revised the loan interest rates. There has been a change in Marginal Cost of Funds Best Lending Rates (MCLR). The rates have been increased by 10 basis points. According to the official website of the bank, the new MCLR rates will be applicable from June 22, 2026. Let us tell you that the bank had also changed the lending rates in May 2026. There was an increase of 5 to 10 bps.

MCLR for 1 year has increased from 9.15% to 9.25%. The bank has announced to increase MCLR rates from 9% to 9.10% for 6 months. MCLR for 3 months has now increased to 8.95%, which was earlier 8.85%. MCLR for one month has increased from 8.55% to 8.65%. Overnight rates have been increased from 8.65% to 8.75%.

Changes in base rate and BPLR also

Let us tell you that MCLR is the minimum rates on the basis of which banks determine the loan interest rates. There has been no change in external benchmark lending rates, EBLR remains at 8.55%. The new benchmark prime lending rates are also set to come into effect from June 22, with the BPLR now at 16.00%. The new base rate will also be applicable from June 22, which is now 11%.

Know the new interest rates for fixed deposits

The bank has changed the interest rates of fixed deposits only on June 8. After the amendment, common citizens are getting 4% to 7.20% interest on investments of less than Rs 3 crore on FDs ranging from 7 days to 10 years. At the same time, it is offering 7.70% interest to senior citizens on tenure up to 10 years.

The highest return is available on special tenure of 400 days. The bank is offering 6.55% interest on tax shield deposits. Providing 50 bps additional interest facility to senior citizens on tenure of 333 days or more. The bank has taken the decision to change the interest rates of FD and loan after the RBI MPC meeting.

Check new rates here