India 7 December 2016: Bank of Baroda, one of the largest Public Sector Lenders, has revised its benchmark lending rates i.e. MCLR across various tenors. The revision will be effective from 7th December 2016 and will be applicable to all new and renewed borrowal accounts.
With the above revision, various tenor based MCLRs of the Bank will be as under:
TENOR
|
EXISTING
MCLR (IN %)
|
MCLR (IN %)
EFFECTIVE FROM
07TH DECEMBER 2016
|
Overnight MCLR
|
9.00
|
8.80
|
1 Month MCLR
|
9.05
|
8.85
|
3 Month MCLR
|
9.15
|
8.95
|
6 Month MCLR
|
9.20
|
9.00
|
1 Year MCLR
|
9.25
|
9.05
|
3 Year MCLR
|
9.25
|
9.05
|
5 Year MCLR
|
9.45
|
9.25
|
With the revision of MCLR as above, the offered rate of interest on loan product will be lower by 20 BPS across all the tenors.