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Now, Syndicate Bank cuts lending rate by up to 1%

MCLR reduced by 0.7%

Press Trust of India  |  New Delhi 

Now, Syndicate Bank cuts lending rate by up to 1%

Public sector on Friday slashed its benchmark lending rate by up to 1 per cent, in the footsteps of bigger lenders like SBI, and others.

The has reduced the marginal cost of funds based lending rate (MCLR) by 0.7 per cent to 8.75 per cent for 1 year tenor, said in a filing on stock exchanges.

With the reduction in benchmark rate, home, car and other loans linked to would become cheaper.

The has reduced by 1 per cent to 8.35 per cent from 9.35 per cent for 1-month tenor, it said.

However, for the 6-month period has been reduced by 0.8 percentage points to 8.60 per cent.

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Now, Syndicate Bank cuts lending rate by up to 1%

MCLR reduced by 0.7%

MCLR reduced by 0.7%
Public sector on Friday slashed its benchmark lending rate by up to 1 per cent, in the footsteps of bigger lenders like SBI, and others.

The has reduced the marginal cost of funds based lending rate (MCLR) by 0.7 per cent to 8.75 per cent for 1 year tenor, said in a filing on stock exchanges.

With the reduction in benchmark rate, home, car and other loans linked to would become cheaper.

The has reduced by 1 per cent to 8.35 per cent from 9.35 per cent for 1-month tenor, it said.

However, for the 6-month period has been reduced by 0.8 percentage points to 8.60 per cent.
image
Business Standard
177 22

Now, Syndicate Bank cuts lending rate by up to 1%

MCLR reduced by 0.7%

Public sector on Friday slashed its benchmark lending rate by up to 1 per cent, in the footsteps of bigger lenders like SBI, and others.

The has reduced the marginal cost of funds based lending rate (MCLR) by 0.7 per cent to 8.75 per cent for 1 year tenor, said in a filing on stock exchanges.

With the reduction in benchmark rate, home, car and other loans linked to would become cheaper.

The has reduced by 1 per cent to 8.35 per cent from 9.35 per cent for 1-month tenor, it said.

However, for the 6-month period has been reduced by 0.8 percentage points to 8.60 per cent.

image
Business Standard
177 22