(Photo: Pradeep Gaur/Mint)
(Photo: Pradeep Gaur/Mint)

Punjab & Sind Bank hikes MCLR by 0.05% on six-month tenor

  • The bank said these rates are effective from March 16, 2019
  • Punjab & Sind Bank has hiked MCLR on six-month duration loan to 8.70 %

NEW DELHI : Punjab & Sind Bank (PSB) has hiked its marginal cost of funds based lending rate (MCLR) by 0.05 % for six-month tenor and lowered interest on three-year tenor by 0.05 %.

"Our bank has reviewed the marginal cost of fund based lending rate (MCLR) for different tenors," PSB said in a regulatory filing.

The bank said these rates are effective from March 16, 2019.

Punjab & Sind Bank (PSB) has hiked MCLR on six-month duration loan to 8.70 %. It has also lowered interest on three-year tenors by 0.05 % to 8.85 %.

Interest on overnight, one-month, three months and one-year tenors remain unchanged at 8.30, 8.40 %, 8.55 % and 8.85 %, respectively. 

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