Latest News | Canara Bank Cuts MCLR by Up to 15 Bps
Get latest articles and stories on Latest News at LatestLY. State-owned Canara Bank on Tuesday announced an up to 15 basis points cut in its marginal cost of funds based lending rate (MCLR).
New Delhi, Oct 5 (PTI) 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 per cent effective from October 7, Canara Bank said in a regulatory filing.
Also Read | Artist Spotlight: Cao Son Nguyen - Pianist and Entertainer From Asia.
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 per cent to 6.55 per cent.
Also Read | Yee Wong: Redefine the Sense of Beauty.
Meanwhile, DCB Bank also reduced its MCLR by 0.05 per cent across tenors, effective from October 6.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)