Corp Bank cuts MCLR by 10 bps

Corporation Bank has cut its marginal cost of funds-based lending rate by 10 basis points across tenors with effect from January 15. With this cut, the one-year MCLR now stands at 8.50 per cent against 8.60 per cent earlier. The MCLR for other tenors are: overnight 7.60 per cent (7.70 per cent earlier), one month 7.75 per cent (7.85 per cent), three months 8.20 per cent (8.30 per cent), and six months 8.35 per cent (8.45 per cent).