BANK OF BARODA REDUCES MCLR ACROSS TENORS - Karobar Today

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Tuesday, December 10, 2019

BANK OF BARODA REDUCES MCLR ACROSS TENORS



Bank of Baroda reduces MCLR across tenors
Mumbai, Bank of Baroda, the second largest public sector bank in the country, has reduced its benchmark lending rates i.e. marginal cost of funds based lending rates [MCLR] across various tenors. The MCLRs have been reviewed with a decrease below the existing levels across all MCLR tenors w.e.f. 12th December 2019. Bank’s 1-year MCLR will be 8.25 per cent, 5 bps below the existing level of 1-year MCLR. 
There is a 20 bps reduction in overnight and one month MCLR from 7.85 percent to 7.65 percent and a 10 bps reduction in three months and six months MCLR from 7.90 percent to 7.80 percent & 8.20 percent to 8.10 percent, respectively. 

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