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Syndicate Bank hikes 3 months' MCLR by 10 basis points

Press Trust of India  |  New Delhi 

State-run Wednesday increased its of funds based lending rate (MCLR) by 10 basis points or 0.1 per cent for loan tenure of 3 months.

rates for loan tenure of three months has been hiked to 8.50 per cent from 8.40 per cent earlier.

The has reviewed MCLR and the new rate would be effective October 10, said in a filing to stock exchanges.

rates for loan tenors of overnight, one month, six months and one year remain unchanged to 8.30 per cent, 8.35 per cent, 8.60 per cent, and 8.80 per cent, respectively.

Lenders review the MCLRs every month.

Shares of were trading 2.18 per cent higher at Rs 30.40 apiece on BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 10 2018. 11:00 IST
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