Karur Vysya Bank trims MCLR by 50 bps, repo rate linked external benchmark lowered by 30 bps

The lender has levied 7.05% EBR-R compared to the previous 7.35%.

Aug 09, 2021 04:08 IST India Infoline News Service

Karur Vysya Bank
Karur Vysya Bank has revised its Marginal Cost of Funds Based Lending Rates (MCLRI and External Benchmark Rate - Repo linked (EBR-R).  The new rates have come into effect from August 07, 2021.

The bank has trimmed its MCLR by 50 basis points across tenors, while the repo rate linked benchmark was reduced by 30 basis points.

The bank's 1-year MCLR is now at 8.25% compared to the previous 8.75%. For six-months and three-month tenor, MCLR is now at 8.15% and 7.80% against the previous 8.65% and 8.30% respectively.

For one month and overnight, MCLR is at 7.65% and 7.50% as compared to earlier 8.15% and  8% respectively.

The lender has levied 7.05% EBR-R compared to the previous 7.35%.

The bank's interest rates cuts despite RBI maintaining policy repo rate at 4% for the seventh consecutive time with an accommodative stance.

On Sensex, Karur Vysya Bank finished at Rs46.10 per piece down by 2.02%. 

Related Story

Open Free Demat Account (Rs699)