Left Menu
Development News Edition

Syndicate Bank cuts MCLR across tenors by 5 basis points

Government-owned Syndicate Bank has reduced its marginal cost of funds-based lending rate (MCLR) by 5 basis points for various tenors effective July 15.

ANI | Mumbai (Maharashtra) | Updated: 13-07-2019 11:07 IST | Created: 13-07-2019 11:07 IST
Syndicate Bank cuts MCLR across tenors by 5 basis points
Syndicate Bank is one of the oldest and major commercial banks in the country. Image Credit: ANI

Government-owned Syndicate Bank has reduced its marginal cost of funds-based lending rate (MCLR) by 5 basis points for various tenors effective July 15. The benchmark one-year MCLR, which forms the basis of most consumer and personal loans, will be at 8.6 per cent as compared with 8.65 per cent currently, the bank said in a statement.

Overnight, one, three and six-month MCLRs have also been cut by 5 bps each to 8.15 per cent, 8.25 per cent, 8.45 per cent and 8.55 per cent respectively. The base rate has been kept unchanged at 9.5 per cent while the benchmark prime lending rate (BPLR) also stands unchanged at 13.85 per cent. (ANI)

Also Read: Syndicate Bank cuts MCLR across tenors by 5 bps from June 15


TRENDING

OPINION / BLOG / INTERVIEW

How UK’s 'best prepared' healthcare system failed to gauge COVID-19

The UK is proud of their public health system and its unlike any other country as around 90 percent of British public supports the founding principles of National Health Service. But without accurate data being available to stakeholders in ...

Poor on IHR capacity progress in 2019, WHO says Cambodia tops COVID-19 response

Despite being in proximity to Hubei, the original epicenter of COVID-19 pandemic, Cambodia has reported just 226 confirmed cases and zero deaths. After seeing the data, WHO appreciated Cambodias healthcare information system but experts dou...

Loopholes in Healthcare Information System may have failed Singapore COVID-19 model

In the initial days of the COVID-19 outbreak, Singapore was in the limelight for its effective healthcare system and pandemic response plan. However, Singapore has now joined the list of the worst-hit nations and the situation is even worse...

Australia's COVID-19 response: Digital infrastructure of help but implementation remains a challenge

Australias ongoing plans to upgrade its health information system helped by the Digital Health Strategy seem even more practical due to the pandemic. But as evident during the pandemic, administrative lapses and the complex matrix of power ...

Videos

Latest News

China, U.S. to review trade deal, air other grievances on Aug. 15 - sources

Senior U.S. and Chinese officials will review the implementation of a Phase 1 trade deal and likely air mutual grievances in an increasingly tense relationship during an Aug. 15 videoconference, two people familiar with the plans said. U.S....

Trump says Beirut explosion seems to be 'bomb of some kind'

President Donald Trump on Tuesday cast a massive explosion that killed dozens of people and wounded thousands in Lebanons capital, Beirut, as a possible attack and offered U.S. help.The United States stands ready to assist Lebanon, Trump sa...

Marlins finally cleared for return vs. Orioles

It took until what seemed like the last minute, but the Miami Marlins finally were cleared to return to the field for a road game Tuesday night against the Baltimore Orioles. MLB sent out a warning that Tuesdays 735 p.m. EST start time coul...

Avs try to snap skid vs. Stars in round robin

Both teams are securely in the playoffs and not fighting for survival, but Wednesdays round-robin seeding game in Edmonton means plenty for the Colorado Avalanche and Dallas Stars. The situation is more desperate for Dallas, which blew a tw...

Give Feedback