Three PSU banks cut MCLR -The Total Investment & Insurance Solutions

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6 October 2016

Three public sector banks -- Indian Overseas Bank (IOB), Bank of India and Syndicate Bank -- on Wednesday announced reduction in their marginal cost of funds-based lending rate (MCLR) for various tenors. The Total Investment & Insurance Solutions

City-based IOB, in a statement issued here, said its MCLR for one year is reduced to 9.50 per cent from 9.55 per cent with effect from October 1. The Total Investment & Insurance Solutions

Similarly, Syndicate Bank said it has cut its MCLR for one year to 9.45 per cent from 9.55 per cent effective from October 7. The Total Investment & Insurance Solutions

On its part, Bank of India said its one year MCLR will be 9.35 per cent effective from October 7.The Total Investment & Insurance Solutions