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Allahabad Bank has reduced its marginal cost of funds based lending rate (MCLR) by five basis point across all tenors effective September 1.
Post revision, the overnight MCLR stands at 7.95 per cent (8 per cent), one month at 8.05 per cent, three months at 8.25 per cent, six months at 8.35 per cent, said a press statement issued by the bank.
The one year, two year and three year MCLR post revision stands at 8.45 per cent, 8.65 per cent and 8.7 per cent respectively.
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