May 30, 2020 10:41 pm | Updated June 10, 2020 05:12 pm IST - Chennai
Public sector lender Indian Bank has slashed the marginal cost of funds-based lending rates (MCLRs) by 30 basis points. The new rates will come into force from June 3 onwards, the bank said in a statement.
With this cut, one-year MCLR of Indian Bank will be 7.50%. The bank reduced the overnight tenor from 7.50% to 7.20%, for one month it will drop from 7.55% to 7.25%, three months from 7.70% to 7.40% and six months to 7.45%.
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