Indian Overseas Bank and Bank of Maharashtra cut lending rates
NEW DELHI: State-owned Indian Overseas Bank and Bank of Maharashtra on Wednesday announced a reduction in their marginal cost of funds based lending rate (MCLR). “Our Bank has revised the MCLR w.e.f 10.05.2020 until further review,” Indian Overseas Bank said in a regulatory filing. The Chennai-headquartered lender said the MCLR for the benchmark one-year tenor […]
Sundaram BNP Paribas cuts lending rates by 10 basis points
CHENNAI: Sundaram BNP Paribas Home Finance on Monday announced a 10 basis points reduction in its prime lending rate on housing and non-housing loans with immediate effect. “The reduction in lending rates is in line with the current interest rate in the market,” Sundaram BNP Paribas Home Finance, Managing Director, Srinivas Acharya said. “We are […]
State Bank of India cuts lending rates by 15 bps
BENGALURU: State Bank of India (SBI), the country’s largest lender by assets, on Wednesday cut its benchmark lending rates by 15 basis points across all tenors, shortly after the central bank slashed interest rates by a larger-than-expected 35 bps to boost the economy. SBI’s one-year marginal cost of fund-based lending rate, or the MCLR, will […]