With the reduction in rates, ICICI Bank's one year MCLR is 7.45 per cent, and six month MCLR is 7.40 per cent.
August 3, 2020One-year MCLR, to which majority of the consumer loans are tied, now stands at 7.40 per cent against 7.60 per cent earlier.
July 10, 2020This is the 14th consecutive reduction in the bank's MCLR, which continues to be the lowest in the market.
July 8, 2020The move comes after the country’s largest lender SBI slashed its MCLR by 25bps.
June 12, 2020The move comes amid similar steps taken by the peers after two rate cuts by the Reserve Bank of India (RBI) in order to help the economic growth.
June 10, 2020The 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, 2020The 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, 2020SBI 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, 2020One year MCLR now stands at 8.10%, down from 8.20%.
January 10, 2020This is the seventh consecutive cut in borrowing rates by the bank in FY 2019-20.
November 8, 2019MCLR 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, 2019State-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, 2017State 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, 2017State-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, 2017Reduction 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, 2017Reduction 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, 2017Home 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