The new rates will be effective from 10 March
The new rates will be effective from 10 March

Syndicate Bank cuts MCLR by 0.10 percentage points

  •  The new rates will be effective from 10 March 
  • The six-month tenor will bear an interest rate of 8.60% from the current rate of 8.70%

NEW DELHI : State-owned Syndicate Bank on Friday said it has reduced its marginal cost of funds based lending rate (MCLR) by 0.10% points for various tenors.

"...the bank has reviewed marginal cost of fund based lending rate (MCLR) and reduced by 10 bps," the bank said in a BSE filing.

Interest rate for one-month and three-month tenors has been reduced to 8.30 per cent and 8.45%, respectively.

The six-month tenor will bear an interest rate of 8.60% from the current rate of 8.70%.

The new rates will be effective from 10 March.

This story has been published from a wire agency feed without modifications to the text.

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