MUMBAI: The country’s largest lender State Bank of India (SBI) on Wednesday said it has reduced its marginal cost of funds based lending rate (MCLR) by 5-10 basis points (bps) for shorter tenors from July 10. The reduction in MCLR for shorter tenors – up to three months – is aimed to boost credit off…
MUMBAI: State-run Union Bank of India on Friday announced reduction in its marginal cost of funds-based lending rate (MCLR) by 20 basis points across tenors. The new rates are applicable from July 11. The revised one-year MCLR stands at 7.40 per cent against 7.60 per cent earlier, the bank said in a release. Three-month and…
MUMBAI: Housing Development Finance Corporation (HDFC) on Friday reduced its retail prime lending rate on housing and non-housing loans by 20 basis points. The prime lending rate is the rate on which commercial banks lend to their customers. The private sector lender’s adjustable-rate home loans are benchmarked against the retail prime lending rate. “The change…
MUMBAI: HDFC Bank has cut its marginal cost of funds-based lending rate (MCLR) by 5 basis points (bps) across tenors. The rate cut is effective from Monday (June 8), according to its website. HDFC Bank said its overnight MCLR stands reduced to 7.30 per cent, while one-month MCLR is 7.35 per cent. One-year MCLR, to…
MUMBAI: The country’s largest lender State Bank of India (SBI) on Monday announced it will reduce marginal cost of fund based lending rate (MCLR) by 25 basis points across all tenors from Wednesday. The one year MCLR has been revised to 7 per cent from 7.25 per cent, the bank said in a release. This…
NEW DELHI: State-owned Canara Bank on Saturday announced reduction in its repo-linked lending rate (RLLR) by 40 basis points (bps) to 6.90 per cent. Meanwhile, the Bengaluru-based bank also slashed its marginal cost of fund-based lending rate (MCLR) by 20 basis points across various tenors. The revised lending rates will be effective from June 7,…
NEW DELHI: Public sector lender Indian Overseas Bank has cut marginal cost of funds based lending rate (MCLR) by up to 0.30 per cent across all tenors, which will bring down cost for consumer loans. The benchmark one-year MCLR, against which most of the consumer and retail loans are priced, has been cut by 0.20…
MUMBAI: State-owned Bank of Maharashtra (BoM) on Friday announced reduction in its repo-linked lending rate (RLLR) by 40 basis points (bps) to 7.05 per cent. The revision in RLLR rates will be effective from June 8, the bank said in a release. “Now, all retail loans (housing, education, vehicle), loans to MSMEs, which are linked…
MUMBAI: Punjab National Bank (PNB), the country’s second-largest state-owned lender, on Monday said it has reduced its repo-linked lending rate (RLLR) by 40 basis points (bps) to 6.65 per cent from 7.05 per cent. The bank’s marginal cost of funds-based lending rate (MCLR) has also been revised downwards by 15 bps across all tenors. The…
CHENNAI: State-owned Indian Bank has announced a cut in its marginal cost of fund-based lending rate (MCLR) by 30 basis points across various tenors. The new interest rates will be effective from June 3, the bank said in a regulatory filing. The rate cut is in line with easing of interest rate in the market…
