Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.

Banking

Portfolio

Loading...
Select Portfolio and Asset Combination for Display on Market Band
Select Portfolio
Select Asset Class
Show More
Download ET MARKETS APP

Get ET Markets in your own language

DOWNLOAD THE APP NOW

+91

CHOOSE LANGUAGE

ENG

  • ENG - English
  • HIN - हिन्दी
  • GUJ - ગુજરાતી
  • MAR - मराठी
  • BEN - বাংলা
  • KAN - ಕನ್ನಡ
  • ORI - ଓଡିଆ
  • TEL - తెలుగు
  • TAM - தமிழ்
Drag according to your convenience
ET NOW RADIO
ET NOW
TIMES NOW

Corporation Bank cuts benchmark lending rate by 5 bps

The bank has reduced the lending rate by 5 basis points (0.05 percentage point) across all tenors up to one year.

PTI|
Mar 14, 2019, 09.23 PM IST
0Comments
Indiatimes
Corporation-bank
The MCLR for one-year tenor was slashed to 8.90 per cent from 8.95 per cent.
State-owned Corporation Bank Thursday announced a cut in its benchmark lending rate by 0.05 percentage points, a move that would make home, auto and other loans cheaper.

The bank has reduced the lending rate by 5 basis points (0.05 percentage point) across all tenors up to one year.

The new rates are effective from March 15, Corporation Bank said in a regulatory filing.

The marginal cost of funds based lending rate (MCLR) for overnight and one-month tenors would be 8.05 per cent and 8.20 per cent, respectively, it said.

The MCLR for one-year tenor was slashed to 8.90 per cent from 8.95 per cent. Most of the retail loans are benchmarked against one-year MCLR.
0Comments

Also Read

Corporation Bank cuts benchmark lending rate by 5 bps

Banks plan to have new benchmark model for deposit & lending rates

Banks plan to have new benchmark model for deposit & lending rates

Bank of Baroda slashes lending rate by 10 basis points

Comments
Add Your Comments
Commenting feature is disabled in your country/region.