IndusInd Bank has increased its marginal cost of funds-based lending rate on overnight to one-year tenures by 10-15 basis points as of today, according to information on the lender's website.
The bank has not adjusted the interest rates for the two-year and three-year terms. Loan interest rates would vary from 8.95 to 10.15% after the modification.
Banks are required by Reserve Bank of India regulations to review their lending rates every month in light of the marginal cost of funds.
The shares of the IndusInd Bank traded 1.7% lower at ₹1,083.55 on NSE, at 10:30 IST.
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