Skip to content

Syndicate Bank Cuts MCLR Across Tenors By 5 bps From June 15

New Delhi: 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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: