Central Bank of India Reduced MCLR
Posted on: 15/Aug/2020 10:20:43 AM
Central Bank of India reduces its MCLR (Marginal Cost of Fund Based Lending Rate) by 5 bps across all tenors w.e.f 15th August 2020.
With this, the Bank has reduced its benchmark rate by 85 bps since 01/04/2020 (i.e. from 8.00% to 7.15%).
The revised tenor wise MCLR are as under:
| Maturity wise MCLR | Existing MCLR | New MCLR Wef 15.08.2020 |
| Overnight MCLR | 6.65% | 6.60% |
| 1M MCLR | 6.65% | 6.60% |
| 3M MCLR | 6.95% | 6.90% |
| 6M MCLR | 7.10% | 7.05% |
| 1Y MCLR | 7.20% | 7.15% |
