MCLR on 1-year tenor stands at 7.35% from previous 7.40%.
While MCLR on six-month tenor comes at 7.30% from earlier 7.35%.
A 15 basis points cut was given on below six-month tenor. MCLR for three-month tenor is now at 6.95% from previous 7.10%.
Also, 6.80% rate each will be applicable on one-month and overnight tenor compared to earlier 6.95% each.
The new interest rates are in effect from November 07, 2020.