Four public sector lenders, including Indian Bank and Vijaya Bank, cut their benchmark lending rates by up to 0.45 per cent.
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The Bank has reduced the marginal cost of funds based lending rate (MCLR) by 0.75 per cent to 8.55 per cent for 1-year tenor. home, Car Loans To Become Cheaper; Dena Bank Cuts Lending Rate By 0.75%
Good news for loan borrowers! Bank of Maharashtra cuts lending rates by 0.10 per cent to 8.60 per cent
Good news for loan borrowers! Bank of Maharashtra cuts lending rates by 0.10 per cent to 8.60 per cent – personal and home loans are priced. A day after the RBI cut the key repo rate, public sector bank of Maharashtra Friday announced to cut the benchmark one-year MCLR by 0.10 per cent to 8.60 per cent..
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Good news comes to borrowers earlier than expected. Banks have started cutting lending rates following the repo rate cut by the Reserve Bank of India. On Tuesday, after the RBI action, banks did.
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NEW DELHI: A day after the RBI cut the key repo rate, public sector Bank of Maharashtra Friday announced to cut the benchmark one-year MCLR by 0.10 per cent to 8.60 per cent. Bank of Maharashtra has reviewed and reduced its marginal cost of funds based lending rates (mclr) with effect from June 7, 2019, it said in a release.
Good news for borrowers as the Reserve Bank of India (), in its bi-monthly monetary policy held on February 7 has reduced the key policy rates by 25 basis points (bps). (One basis point is equal to one hundredth part of percentage.) Post the announcement, the repo rate stands at 6.25 per cent and reserve repo rate at 6.00 per cent.
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Good news for home loan borrowers as ICICI Bank has cut its home loan rates by 30 bps for up to Rs 30 lakh for new borrowers.