Page 2 - Mclr Rates

Bank of Baroda raises MCLR on select tenor loans by up to 15 basis points

State-owned Bank of Baroda has raised the marginal cost of funds based lending rate by up to 0.15 per cent for select tenor of loans with effect from Tuesday. The bank has approved the revision in Marginal Cost of funds based Lending Rate (MCLR) with effect from July 12, 2022, Bank of Baroda said in a regulatory filing on Monday. The one year MCLR, the benchmark for most of consumer loans such as auto, home and personal loans, has been revised upwards to 7.65 per cent from the existing 7.50 per cent. The three-month and six-month tenor loans will have new MCLRs at 7.35 per cent and 7.45 per cent, respectively, up by 0.10 per cent each. On Monday, shares of Bank of Baroda closed 3.74 per cent up at Rs 109.55 apiece on BSE.

South Indian Bank raises MCLR rates by up to 0.20% effective Monday

Private sector lender South Indian Bank has raised the marginal cost of funds based lending rates by up to 0.20 per cent across various tenors to be effective from Monday. The Marginal Cost of Funds Based Lending Rates (MCLR) applicable for multiple tenors has been revised with effect from June 20, 2022, South Indian Bank said in regulatory filing on Saturday. The benchmark one-year MCLR has been revised upwards to 8.35 per cent from 8.15 per cent earlier. The one-year MCLR is the rate against which most of the consumer loans such as auto, home and personal are decided. The three-month MCLR has also been revised up by equal measure to 7.95 per cent. The other tenor loans such as overnight, one-month and six-month have been upped by 0.15 per cent each in the range of 7.80-8.05 per cent, the bank said. Most of the banks have revised their lending rate after the Reserve Bank of India increased the benchmark key repo rate by 0.50 per cent to 4.90 per cent earlier on June 8. The repo

Bank of Baroda announces reduction in MCLR by 0.05% across all tenors

Shares of Bank of Baroda were trading 1.76 per cent lower at Rs 47.35 apiece on the BSE

Indian Bank cuts 1-year MCLR by 5 bps to 7.3%; effective from September 3

Most of the consumer loans such as personal, auto and home were priced on the basis of the one-year MCLR prior to the introduction of repo-linked lending rate

Union Bank of India reduces MCLR by 20 bps across tenors effective July 11

Post the reduction, MCLR across tenors ranges from 6.85 per cent to 7.40 per cent

SBI cuts MCLR by 5-10 bps upto three months tenor to revive demand

With this revision, SBI's MCLR upto three-months tenor comes down to 6.65 per cent per annum

Canara Bank, Bank of Maharashtra to reduce MCLR by 10, 20 basis points

Overnight and one-month lending rates have been cut by 10 basis points to 7.20 per cent each

After deposit rate cuts in May, SBI now slashes lending rates by 25-75 bps

Move will have to be matched by other lenders at a time when margins are under pressure due to extended loan moratorium and a ruling due on whether they can charge interest on the moratorium after all

SBI reduces MCLR by 35 bps, cuts savings rate by 25 bps on all deposits

SBI rate cut: The savings rate has been reduced to 2.75 per cent from 3 per cent

Bank of Baroda cuts MCLR by up to 10 bps; home, auto loans to get cheaper

With this reduction, the one-year MCLR has come down to 8.15 per cent per annum from 8.25 per cent, according to a bank statement; it will be effective from February 12, 2020

SBI cuts MCLR for ninth straight month making auto, home loans cheaper

The bank also reduced interest rate on term deposits - retail and bulk - by 10-50 basis points (bps) across various tenors

Existing home loan borrowers must move to external benchmark loans

Yes, there will be some cost, but it will be limited to administrative and legal expenses

Allahabad Bank to slash MCLR across tenors by 5 bps from Saturday

The one-year MCLR is the benchmark to price most of consumer loans such as auto and personal

Bank of Baroda and HDFC Bank cut MCLR by 5 bps and 15 bps respectively

HDFC Bank had also cut its MCLR by 10 bps across tenures last month

UCO Bank cuts MCLR by 10 basis points across tenors, revises rate to 8.3%

The revised one-year MCLR now stands at 8.30 per cent, down from the existing 8.40 per cent, the state-run lender said in a release.

Top headlines: SBI's MCLR rate cut, Lodha India's richest realtor and more

This is the eighth cut in MCLR in this financial year and follows a 5 bps reduction last month

In 8th cut this year, SBI reduces MCLR by 10 bps across all tenors

The one year MCLR has come down to 7.90 per cent per annum from 8.00 per cent per annum with effect from December 10, 2019

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In 7th cut this year, SBI reduces MCLR by 5 bps across all tenors

Additionally, the lender has revised interest rates on term deposits with effect from November 10, 2019

SBI cuts MCLR by 5 bps across all tenors, reduces fixed deposit rates

With this reduction, the one year MCLR, to which most of its loan prices are linked, will come down to 8 per cent