Oriental Bank of Commerce increases MCLR by 0.10%

NEW DELHI: State-owned Oriental Bank of Commerce (OBC) has raised the marginal cost of funds based lending rate (MCLR) by 0.10 per cent for various tenors with effect from Thursday.

“This is to inform that the bank has revised MCLR for different tenors with effect from October 11,” the bank said in a regulatory filing.

MCLR for one year loan tenor, against which most of the retail loans are benchmarked, has been raised to 8.75 per cent, from 8.65 per cent earlier.

Likewise, for 6 months, 3 months and 1 month tenor loans, MCLR has been increased by 0.10 per cent each to 8.70 per cent, 8.50 per cent and 8.45 per cent, respectively.

For overnight tenor, MCRL is increased to 8.30 per cent.

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