ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Mahindra & Mahindra stock hits 52-week high as brokerages bullish on counter post Scorpio-N launch; check target prices
  • GST Council meet begins today: Know agendas of Finance Minister Nirmala Sitharaman's led two-day meeting
  • Security deposit on commercial LPG connection goes up by Rs 1050 for 19-kg cylinder; check new rates
  • Cash-starved Sri Lanka to end fuel duopoly to ease fuel shortages
  • Xiaomi 12S series set to launch with Leica cameras on July 4: Check key details here
Read in App
Business News » Companies News

Corporation Bank cuts 1-yr MCLR by 5 bps to 8.85 pct

Corporation Bank's tenor based MCLR, for all new rupee loans and advances including renewals, is revised with effect from June 15 2019.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Corporation Bank cuts 1-yr MCLR by 5 bps to 8.85 pct
Banks have started to cut MCLR post RBI's move to slash repo rate by 25 basis points on June 6. Photo: Reuters

Corporation Bank Friday said it has reduced marginal cost of funds based lending rate (MCLR) for one-year tenor loan by 5 basis points to 8.85 per cent. The one-year MCLR is the benchmark against which most customer loans such as auto, personal and home loans are priced. Corporation Bank's tenor based MCLR, for all new rupee loans and advances including renewals, is revised with effect from June 15 2019, a BSE filing said. The six-month MCLR now stands at 8.80 per cent as compared to 8.85 per cent earlier. 

MCLR for other tenors has been kept unchanged. Banks have started to cut MCLR post RBI's move to slash repo rate by 25 basis points on June 6. Bank of Maharashtra, Oriental Bank of Commerce and IDBI Bank are among the early movers in passing on the rate cut benefits to customers.

Country's largest lender SBI too has cut the interest rate on cash credit (CC) and overdraft (OD) with limit above Rs 1 lakh with effect from July 1. The effective repo-linked lending rate (RLLR) for CC/OD customers will be 8 per cent, while for savings deposits above Rs 1 lakh the new rate would be 3 per cent, SBI had said.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Corporation Bank
Written By: PTI
Updated: Fri, Jun 14, 2019
05:50 pm
New Delhi, PTI
RELATED NEWS
Union Bank of India reduces MCLR! Check full details of new interest rates Union Bank of India reduces MCLR! Check full details of new interest rates
Andhra Bank, Corporation Bank, Union Bank account holders? Your banks set to merge! Andhra Bank, Corporation Bank, Union Bank account holders? Your banks set to merge!
Corporation Bank's credit levels will increase by 10% in FY20: PV Bharathi, MD & CEO Corporation Bank's credit levels will increase by 10% in FY20: PV Bharathi, MD & CEO
Sensex, Nifty rise; Bank Nifty sustains above 31K; Vodafone Idea, Corporation Bank, SpiceJet stocks gain Sensex, Nifty rise; Bank Nifty sustains above 31K; Vodafone Idea, Corporation Bank, SpiceJet stocks gain

LATEST NEWS

Wealth Guide: ULIP investments - Advantages explained, myths busted by expert

India to ban single-use plastic from 1 July

Apple iPhone 14 Pro to feature Always-On Display - Check expected launch date, specifications and more

Xiaomi 12S series set to launch with Leica cameras on July 4: Check key details here

15 more firms selected under PLI scheme for white goods

Cash-starved Sri Lanka to end fuel duopoly to ease fuel shortages

Sidbi net profit slips 18% to Rs 1,958 crore in FY22

Asia stocks edge down after Wall Street falls; oil rises

Energy stocks ONGC, Oil India, MRPL, Chennai Petro gain up to 10% on higher crude oil prices – Here is what brokerages say on oil & gas shares

ONGC chopper makes emergency landing in high-sea; 4 rescued

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV