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.