Bank of Baroda reduces MCLR rates for tenors below one year

作者:EmilySarah 發表日期:2018-05-23 21:28:10

State-run Bank of Baroda has reduced its marginal cost of funds-based lending rates (MCLR) for tenors under one-year by 10-25 basis points.

For three-months and six-months tenors, the bank has revised it's MCLR rates to 7.95 per cent and 8.15 per cent, respectively.

The overnight and one month rates stands at 7.80 per cent and 7.85 per cent, respectively.

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One-year MCLR rate of the bank continues to be at 8.30 per cent, the bank said in a statement today.

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The one-year MCLR rate is applicable irrespective of the total home loan amount and is available for a tenor of up to 30 years, it said.

Bank has also decided to discontinue the computation and declaration of MCLR for tenors above one year.

"We had three- and five- year MCLR rates, but it was never used. Just to comply with the RBI guidelines, we have decided to keep only MCLR rates of five tenors," its executive director Mayank K Mehta said. ********* Anil Nair is Dy MD of Aspire Home Finance

Motilal Oswal Financial Services has appointed Anil Nair as deputy managing director of its housing finance arm, Aspire Home Finance Corporation.

Nair will be responsible for branch performance across clusters, regions and states, which includes sales and operations, the company said.

Prior to joining this, Nair was with DHFL as vice president and zonal head. Besides he has also been associated with ICICI Banks Mortgage Business, MIRC Electronics (Onida) and Bata India.

本文來源:http://www.moneycontrol.com/news/business/bank-of-baroda-reduces-mclr-rates-for-tenors-below-one-year-2500435.html

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