HDFC Bank cuts MCLR by up to 10 bps
Private sector lender, HDFC Bank has cut MCLR rates by between 5 bps and 10 bps for these tenors: 6-month, 1-year, 2-year and 3-year. These rates will be effective from today, i.e., November 7. In August, the bank had cut MCLR across all tenors.
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SBI cuts MCLR by 5 bps across all tenors; reduces FD rates as well
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Bank of Maharashtra cuts MCLR by 10 bps
The lender has also cut down the repo linked lending rate (RLLR) by 0.25 per cent to 8.20 per cent from 8.45 per cent earlier with effect from October 8.
Andhra Bank to cut MCLR by 10 basis points across all tenors
The benchmark one-year tenor MCLR, which is used to price most of the consumer loans, has been brought down to 8.30 per cent from 8.40 per cent.
Allahabad Bank cuts MCLR by 5 bps across tenors
The benchmark one-year MCLR, against which most of the consumer loans are priced, will now stand at 8.35 per cent from the earlier rate of 8.40 per cent.
State Bank of India cuts MCLR by 10 bps across tenors, loans to get cheaper
Due to this rate cut, the one-year MCLR would come down to 8.05 percent a year from 8.15 percent.
RBI expects banks to soften lending rates even though it has kept policy rates unchanged
The central bank is expecting higher monetary transmission since the share of base rate loans, which have remained largely sticky, has come down. The marginal cost-based floating rate loans, which have annual resets, have become due.
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SBI cuts MCLR by 10 bps effective from sept 10
Public sector lender State Bank on Monday announced yet another reduction in lending rates by 10 basis points across tenors.The new rates ar...
SBI cuts MCLR and fixed deposit rates across all tenors
Due to this rate cut, the one-year MCLR would come down to 8.15 percent a year from 8.25 percent. This is SBI's fifth consecutive cut in MCLR in FY 2019-20.
Central Bank of India reduces repo-based lending rate by 25 bps
After the Reserve Bank of India cut the repo rate for the consecutive time this year on Friday, many banks too have followed suit and reduced interest rates on their loans.
Indian Overseas Bank to revise interest rates from November 1
The decision to revise the lending rates follows the Reserve Bank of India reducing the Repo rate by 25 basis points.
Axis Bank cuts MCLR across all tenors
Axis Bank joins a long list of banks that have reduced their lending rates after RBI cut the repo rate by 35 basis points earlier this month.
New home loan takers to gain instantly from RBI cut
On an average, home loan rates are likely to fall by 25 basis points for new borrowers.
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