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Bank of Baroda cuts MCLR by 55-75bps across the tenor

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Bank of Baroda, one of the largest Public Sector Lenders, has revised its benchmark lending rates i.e. MCLR across various tenors. The revision will be effective from 7th January 2017 and will be applicable to all new and renewed borrowal accounts.

 

With the above revision, various tenor based MCLRs of the Bank will be as under:

 

TENOR EXISTING

MCLR (IN %)

MCLR (IN %)

EFFECTIVE FROM

07th January 2017

Overnight MCLR 8.80 8.10
1 Month MCLR 8.85 8.15
3 Month MCLR 8.95 8.20
6 Month MCLR 9.00 8.30
1 Year MCLR 9.05 8.35
3 Year MCLR 9.05 8.50
5 Year MCLR 9.25 8.65

 

With the revision of MCLR as above, the offered rate of interest on loan product will be lower by 55 BPS to 75 BPS across all the tenors. The effective MCLR has come down by 75 bps to 95 bps for various tenor during last two months.

 

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