Money & Banking

Corporation Bank cuts MCLR by 5-15 bps

Mangaluru | Updated on February 16, 2020 Published on February 16, 2020

Corporation Bank has cut its marginal cost of funds-based lending rate (MCLR) by 5-15 basis points (bps) across different tenors with effect from February 15. With this cut, the one-year MCLR now stands at 8.40 per cent, against 8.50 per cent earlier.

The MCLR for other tenors are: overnight 7.55 per cent (7.60 per cent earlier), one month 7.60 per cent (7.75 per cent), three months 8.10 per cent (8.20 per cent), and six months 8.25 per cent (8.35 per cent).

Published on February 16, 2020
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