Loans to get cheaper! Syndicate Bank cuts MCLR across tenors by 5 basis points

By: |
New Delhi | Updated: July 12, 2019 9:32:25 PM

Overnight, one-, three- and six-month MCLRs have also been cut by 5 bps each to 8.15 per cent, 8.25 per cent, 8.45 per cent and 8.55 per cent, respectively.

Loans rates, cheap loan rates, Syndicate Bank, MCLR tenors, easy loans, Syndicate Bank loans, Agriculture loans, Syndicate Bank, NPA of public sector bank, NABARD, Reserve BankThe base rate has been kept unchanged at 9.50 per cent, while the benchmark prime lending rate (BPLR) also stands unchanged at 13.85 per cent.

State-owned Syndicate Bank has reduced it marginal cost of funds-based lending rate (MCLR) by 5 basis points for various tenors, effective June 15.

The benchmark one-year MCLR, which forms basis of most of consumer and personal loans, will be at 8.60 per cent as compared with 8.65 per cent currently, the bank said in a regulatory filing.

Overnight, one-, three- and six-month MCLRs have also been cut by 5 bps each to 8.15 per cent, 8.25 per cent, 8.45 per cent and 8.55 per cent, respectively.

The base rate has been kept unchanged at 9.50 per cent, while the benchmark prime lending rate (BPLR) also stands unchanged at 13.85 per cent.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1IndusInd Bank Q1 net profit jumps 38 pc at Rs 1,433 crore
2Thousands of digital payment frauds putting Modi’s ‘digital India’ dream at risk?
3India’s war on world’s worst bad-debt pile stalled by regulators