Latest News | Karur Vysya Bank Cuts MCLR by 0.50 Pc Across Tenors

New Delhi, Aug 6 (PTI) Karur Vysya Bank (KVB) on Friday announced cutting its marginal cost of fund based lending rate (MCLR) by 0.50 per cent.

The bank has revised the marginal cost of funds based lending rates (MCLR) and external benchmark rate -- repo linked (EBR-R) effective from August 7, 2021, KVB said in a regulatory filing.

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The benchmark one-year tenor loans will be priced at 8.25 per cent, down from 8.75 per cent earlier.

For the overnight to six-month tenor loans too, the MCLR has been revised by 0.50 per cent to 7.50-8.15 per cent.

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The EBR-R has been cut to 7.05 per cent from 7.35 per cent earlier, the bank said.

(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)