Bank of Baroda trims MCLR by 5 bps on various tenor with effect from tomorrow

MCLR for 1-year tenor is set at 7.40% from current 7.45%.

Dec 11, 2020 09:12 IST India Infoline News Service

State-owned Bank of Baroda (BoB) has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points on various tenor.

The new rates will come into effect from tomorrow onwards.

MCLR for 1-year tenor is set at 7.40% from current 7.45%.

Meanwhile, MCLR for the three-month and six-month period will be 7.15% and 7.25% from tomorrow onward, compared to existing 7.20% and 7.30% respectively.

Also, the bank has levied an MCLR of 7% on one-month tenor against current 7.05%. Similarly, overnight MCLR would be 6.55% from present 6.60%.

At around 3.27 pm, BoB was trading at Rs65.40 per piece down by 1.43%. The stock has touched an intraday high and low of Rs68.20 per piece and Rs65 per piece on Sensex respectively. 

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