Public sector lenders Bank of Baroda, Union Bank of India and Bank of India, reduced their marginal cost of funds based lending rate, a day after State Bank of India (SBI) announced such a reduction.
Private sector lender HDFC Bank has reduced its one-year MCLR by 10 basis points (bps) to 8.15% . Bank of Baroda reduced its one-year MCLR by 5 bps to 8.25% effective Thursday.
Union Bank of India has reduced its MCLR by 5-10 basis points across all tenors. The one-year MCLR now will be 8.2% compared to 8.25%, with effect from Wednesday.
Bank of India has cut its one-year MCLR to 8.2% from 8.3%.
