October 19, 2021

The World Live Breaking News Coverage & Updates IN ENGLISH

The World Live Breaking News Coverage & Updates IN ENGLISH

Canara Bank cuts MCLR by up to 15 bps from October 7

1 min read
, Canara Bank cuts MCLR by up to 15 bps from October 7, The World Live Breaking News Coverage & Updates IN ENGLISH
Share This :
, Canara Bank cuts MCLR by up to 15 bps from October 7, The World Live Breaking News Coverage & Updates IN ENGLISH

Most of the consumer loans such as personal, auto and home are priced on the basis of the one-year MCLR.

PTI

October 05, 2021 / 10:01 PM IST

, Canara Bank cuts MCLR by up to 15 bps from October 7, The World Live Breaking News Coverage & Updates IN ENGLISH

State-owned Canara Bank on Tuesday announced an up to 15 basis points cut in its marginal cost of funds based lending rate (MCLR).

The bank has decided to reduce the MCLR for one-year tenor by 10 basis points to 7.25 percent effective from October 7, Canara Bank said in a regulatory filing.

Most of the consumer loans such as personal, auto and home are priced on the basis of the one-year MCLR.

The bank has lowered MCLR on overnight and one-month tenors by 0.15 percent to 6.55 percent.

Meanwhile, DCB Bank also reduced its MCLR by 0.05 percent across tenors, effective from October 6.

Share This :
Copyright © All rights reserved. | Newsphere by AF themes.