Kolkata: HDFC Bank lowered its marginal cost of funds based lending rate (MCLR) by 5 basis points across maturities, while Bank of Baroda announced a 10 basis point rise in three-month MCLR.
HDFC’s new rates came into effect from August 7, according to the bank’s website. BoB will raise the rate from August 12, it said in a stock exchange filing Monday.
The revised rates for HDFC’s overnight, one-month, three-month, six-month, one year and three year MCLR stood at 8%, 8%, 8.15%, 8.30%, 8.40% and 8.65% respectively. It kept the two-year MCLR unchanged at 8.55%.
BoB said it will raise the three-month MCLT to 8.30% while its overnight, one month, six month and one year MCLR rates will remain at 7.85%, 7.95%, 8.50% and 8.75% respectively.