Public sector Syndicate Bank
on Friday slashed its benchmark lending rate by up to 1 per cent, in the footsteps of bigger lenders like SBI, ICICI Bank
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, Syndicate Bank
said in a filing on stock exchanges.
With the reduction in benchmark rate, home, car and other loans linked to MCLR
would become cheaper.
has reduced MCLR
by 1 per cent to 8.35 per cent from 9.35 per cent for 1-month tenor, it said.
for the 6-month period has been reduced by 0.8 percentage points to 8.60 per cent.