Syndicate Bank lowers MCLR

Syndicate Bank has cut its marginal cost of funds-based lending rate (MCLR) with effect from October 7. Following are the rates tenor-wise: overnight MCLR, revised 9.30 per cent (existing 9.40 per cent) ; one-month, 9.35 per cent (9.45 per cent); three-month, 9.35 per cent (9.45 per cent); six-month 9.40 per cent (9.50 per cent); and one-year, 9.45 per cent (9.55 per cent).