For Immediate Publication / Broadcast / Telecast
PR-1326
IDBI Bank reduces Marginal Cost of funds based Lending Rate (MCLR)
Mumbai, December 30, 2016: IDBI Bank reduces Marginal Cost of Funds based Lending Rates (MCLR) as under:
Tenor |
MCLR ( in % ) |
Overnight |
8.50 |
One Month |
8.75 |
Three Month |
8.85 |
Six Month |
8.90 |
One Year |
9.15 |
Two Year |
9.20 |
Three Year |
9.30 |
The above revised rates are applicable w.e.f. January 01, 2017.
The bank has effectively reduced MCLR by 30 bps to 60 bps across various tenors since April 2016.
The Bank also reduced Base Rate from 9.65% p.a. to 9.50% p.a while BPLR also reduced from 14.15% p.a to 14% p.a. The reduction in MCLR is expected to positively impact loan growth; both in the retail consumer segment, corporate sector lending, thereby supporting the growth impulses in the economy.
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सीआइएन / (CIN)L65190MH2004GOI148838
