EMI Relief Ahead? THESE Major Banks Slash MCLR In September–Check List
MCLR, or the Marginal Cost of Funds-based Lending Rate, is the benchmark rate banks use to decide interest rates on floating-rate loans taken before October 2019. A cut in MCLR can directly reduce monthly EMIs or help borrowers close their loans faster.
Sep 19, 2025, 17:13 PM IST
Major Banks Cut MCLR Rate: Why Now Might Be the Smartest Time To Let The Bank Fund Your Dreams
Major public sector banks including Bank of Baroda, Canara Bank, PNB, and Indian Bank have trimmed their Marginal Cost of Funds-based Lending Rates (MCLR) by up to 5 basis points.
Jul 15, 2025, 16:42 PM IST
Big Blow To Loan Borrowers! EMIs To Go Up? ICICI, Bank Of India Hikes Their Lending Rates; Check
Implemented by the RBI on April 1, 2016, MCLR serves as the minimum lending rate below which a bank is not allowed to lend.
Nov 02, 2023, 15:40 PM IST
BAD NEWS for Loan borrowers! SBI hikes lending rates by up to 10 bps-- Check new rates here
Banks increase their lending rates, or MCLR, in order to pass the cost on to their clients if the Reserve Bank of India raises the repo rate.
Jan 14, 2023, 19:16 PM IST
Loans to be cheaper as Axis Bank cuts MCLR by up to 0.70%
Loans will soon be cheaper as country's third largest private sector lender Axis Bank on Friday cut its interest offering by up to 0.70 per cent. The latest rate cut is being seen as a move following similar moves by all the major players in the system due to high liquidity post demonetisation.
Jan 13, 2017, 16:43 PM IST
SBI, ICICI Bank slash lending rates
Top two lenders in the country, State Bank of India (SBI) and ICICI Bank, today announced a cut of 0.15 percent and 0.10 percent in their lending rates respectively under a new system of computation, signalling a further dip in borrowing costs ahead of the busy season.
Oct 29, 2016, 13:08 PM IST
No silver bullet, government working on rate transmission: Jayant Sinha
Government is looking at ways to ensure transmission of monetary action on the ground as there is no silver bullet that can deal with the rate cut issue, Minister of State for Finance Jayant Sinha today said.
Apr 05, 2016, 16:06 PM IST