Page 4 - Mclr

SBI cuts MCLR for ninth straight month making auto, home loans cheaper

The bank also reduced interest rate on term deposits - retail and bulk - by 10-50 basis points (bps) across various tenors

Top headlines: WhatsApp Pay set for phased roll out in India, SBI cuts MCLR

From WhatsApp Pay's phased roll out in India to PhonePe's plans of creating world's biggest ATM network in India, here are the day's top headlines

UBI to cut MCLR across tenors by 10 bps, BoB to slash 1-month rate by 5 bps

Union Bank of India has reduced the MCLR by 10 basis points across all tenors with effect from January 11, 2020

Existing home loan borrowers must move to external benchmark loans

Yes, there will be some cost, but it will be limited to administrative and legal expenses

Bank of Baroda and HDFC Bank cut MCLR by 5 bps and 15 bps respectively

HDFC Bank had also cut its MCLR by 10 bps across tenures last month

Union Bank cuts MCLR 5-10 bps across tenors; one-year rate revised to 8.2%

One-year MCLR now stands at 8.20 per cent, down from 8.25 per cent, the public sector bank said

Top headlines: SBI's MCLR rate cut, Lodha India's richest realtor and more

This is the eighth cut in MCLR in this financial year and follows a 5 bps reduction last month

NTPC inks Rs 5,000 crore term-loan pact with SBI for capex spending

The loan facility has been extended at an interest rate linked to 3-month MCLR of the bank and has a door-to-door tenure of 15 years

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In 7th cut this year, SBI reduces MCLR by 5 bps across all tenors

Additionally, the lender has revised interest rates on term deposits with effect from November 10, 2019

Bank of Maharashtra cuts MCLR by 0.10% to 8.40% effective October 8

Base rate has been kept unchanged at 9.50 per cent per annum

SBI to cut MCLR by 10 basis points across all tenors from Oct 10

The one-year marginal cost of funds-based lending rate (MCLR) would come down to 8.05% from 8.15% from October 10

SBI cuts MCLR by 10 basis points, slashes term deposit rates by 20-25 bps

Bank official hints at another round of rate cuts following low credit offtake

Stimulus for borrowers

The inherent belief of the powers-that-be appears to be that a new home loan is the only way to provide a fillip to economic activity

HDFC reduces prime lending rates on home loans by 10 bps from August 1

For women borrowers, there is an extra 5 bps discount in each category of loans

Linking bank's base rate to MCLR for loans will bring relief to borrowers

RBI will issue necessary instructions in this regard by the end of next week

Shift to MCLR regime helps banks pass on rate cuts

Further softening of interest rates linked to deposit rate cuts, credit uptick

MCLR: Banks flag hurdles for review

Banks can add a spread component over and above the MCLR, depending on a customer's risk profile, limiting the transmission

RBI to review MCLR Regime

Bankers admit cost of funds has come down by 50-60 bps but transmission hasn't been more than 20-30 bps

HDFC Bank cuts 2-year MCLR; BOB hikes for 1 year

Private sector lender HDFC Bank has reduced its marginal cost of funds-based lending rate (MCLR) - the benchmark to price loans - by five basis points for one-month bucket to 8.95 per cent and 9.25 per cent for the two-year bucket.Public sector lender Bank of Baroda hiked MCLR for one year by 10 basis points to 9.4 per cent.