MUMBAI: State-run Canara Bank and Bank of Maharashtra on Monday announced reduction in their marginal cost of funds based lending rates (MCLR) by 10 basis points and 20 basis points, respectively, across all tenors, effective July 7. Bengaluru-based Canara Bank has cut its one-year MCLR to 7.55 per cent from 7.65 per cent earlier. Overnight…
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: 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: 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 India (BoI) on Friday announced a reduction of its marginal cost of funds-based lending rate (MCLR) by 25 basis points across all tenors, effective June 1. The revised one-year MCLR will be 7.70 per cent as against 7.95 per cent earlier, the bank said in a release. One-month and six-month MCLRs…
MUMBAI: State-owned Union Bank of India on Friday announced reduction in its marginal cost of funds-based lending rate (MCLR) by up to 15 basis points across all tenors, effective May 11. This is the eleventh consecutive rate cut announced by the bank since July 2019, a release said. The one-year MCLR has been revised downwards…
