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OBC cuts MCLR by up to 15 bps

OBC cuts MCLR by up to 15 bps
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New Delhi: Oriental Bank of Commerce has decreased its Marginal Cost of Funds based Lending Rate (MCLR) by upto 15 bps across various tenors. The MCLR rates will be in effect from December 10, 2019 till next review by the Bank.

Overnight MCLR has been decreased from 7.80 per cent to 7.70 per cent. Similarly, one month MCLR rates has been decreased from 7.90 per cent to 7.75 per cent. Three months MCLR has been reduced from 8.00 per cent to 7.90 per cent. Six Months MCLR has been reduced from 8.15 per cent to 8.05 per cent. Meanwhile, One year MCLR are reduced from 8.35 per cent to 8.30 per cent.

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