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SBI cuts MCLR across all tenors by 5 bps

Friday, May 10, 2019, 2:59 PM

The SBI, announced on Friday that it has reduced its MCLR by 5 bps across all tenors. According to the source, after the 5 bps cut, the 1-year MCLR will come down from 8.5% per year to 8.45%. "As a result, interest rates on all loans linked to MCLR stand reduced by 5 bps with effect from 10 May, 2019," stated the release.
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ICICI Bank cuts MCLR by 5 basis points

Tuesday, April 2, 2019, 3:04 PM

ICICI Bank has cut its MCLR by five basis-points across tenors from its previous benchmark rates. ICICI Bank has reduced these lending rates for overnight and one-month tenors to 8.5% from the previous 8.55%, three-month tenor to 8.55% from the previous 8.60, six-month tenor to 8.7% from the previous 8.75% and one-year tenor to 8.75% from the previous 8.8%, according to the bank's website.
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HDFC Bank cuts MCLR for 2,3 year loans by 5 basis points

Friday, March 8, 2019, 3:08 PM

The country's largest private sector lender, HDFC Bank, has reduced its marginal cost-based lending rate (MCLR) for loans of two and three-year tenors by 5 basis points to 8.85 percent and 9 percent, respectively. The new rates are effective from March 7, according to the bank's website. Earlier, the rates for two- and three-year tenors stood at 8.9 percent and 9.05 percent, respectively.

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