Money & Banking

Allahabad Bank to cut MCLR from June 12

Our Bureau Allahabad | Updated on January 12, 2018 Published on June 10, 2017


Kolkata-based Allahabad Bank has reduced its marginal cost of funds based lending rate (MCLR).

The reduction comes into effect from Monday, June 12.

MCLR for one-year tenure has been reduced by 10 basis points i.e. from 8.60 per cent to 8.50 per cent.

The bank also reduced the one-month, three-month and six-month MCLR by 15 basis points.

Published on June 10, 2017
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