Tag: MCLR
12 Results
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SBI slashes lending rate by 15 bps across all tenors; launches spl deposit scheme for senior citizens
The bank also slashed its interest rates on retail term deposits by 20 basis points for 'up to 3 Years' tenor, effective from May 12.
May 7, 2020 -
Bank of India reduces six-month MCLR by 10 basis points
The move came a day after the Reserve Bank of India’s monetary policy committee (MPC) kept repo rate unchanged at 5.15 percent.
February 8, 2020 -
SBI cuts MCLR for nine consecutive month
SBI has also decided to cut in the retail fixed deposits or FD rates. The reduction in MCLR and FD rates will come into effect from February 10.
February 7, 2020 -
Union Bank of India further cuts MCLR by 10 bps across tenors
One year MCLR now stands at 8.10%, down from 8.20%.
January 10, 2020 -
SBI slashes lending rates, loans to get cheaper
This is the seventh consecutive cut in borrowing rates by the bank in FY 2019-20.
November 8, 2019 -
Oriental Bank of Commerce cuts MCLR by 0.10 pc for various tenors
MCLR for one-month loan and 6-month tenor has been reduced by 0.10 per cent to 8.35 per cent and 8.60 per cent, respectively.
June 11, 2019 -
Allahabad Bank reduces MCLR by 5 bps
State-run Allahabad Bank on Wednesday said it would reduce its Marginal Cost of Funds-based Lending Rate (MCLR) by 5 basis points (bps) across all tenors with effect from December 1, making home, car and other loans cheaper. One basis point is one-hundredth of a percentage point. The MCLR for one year tenor would now get …
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November 30, 2017 -
SBI cuts key lending rate by 0.05% across maturities
State Bank of India (SBI) has cut is benchmark lending rate by 0.05 per cent across maturities, effective from Wednesday, according to an announcement by the state-run lender. The reduction in marginal cost of funds based lending rate (MCLR) by the largest Indian bank, last made on January 1 this year, has thus brought its …
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November 1, 2017 -
Union Bank, Dena Bank reduce MCLR rates by 20 basis points
State-run lenders Union Bank of India and Dena Bank today reduced their marginal cost of lending rates across various tenors with effect from Friday. Union Bank has cut its MCLR by 20 basis points across all tenors. The new one-year MCLR has been set at 8.20 per cent as against 8.40 per cent earlier, Union …
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September 1, 2017 -
Decline in interest rates will boost economy
Reduction in of Lending Rate (MCLR) by 0.9 per cent, that is a reduction of 90 points at one go by State Bank of India (SBI) has brought cheer to the economy. This fall is the largest in the last few years by any bank at one go. With other banks following the cue, (though …
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January 19, 2017 -
Decline in interest rates will boost economy
Reduction in of Lending Rate (MCLR) by 0.9 per cent, that is a reduction of 90 points at one go by State Bank of India (SBI) has brought cheer to the economy. This fall is the largest in the last few years by any bank at one go. With other banks following the cue, (though …
Continue reading "Decline in interest rates will boost economy"
January 19, 2017 -
Home loans turn cheaper, banks cut rates
Home loans are set to turn cheaper with state-run Bank of Baroda on Monday lowering its rate to as low as 8.35 per cent — the lowest across industry –while some other lenders including Allahabad Bank and Bank of Maharashtra also cut their rates for housing and other loans. Smaller private sector player Sundaram BNP …
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January 9, 2017