For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

ICICI Bank Cuts Lending Rate Across Tenure

|

On Monday, the private sector lender ICICI Bank cut MCLR by 5 basis points across tenure just 2 days ahead of the RBI's MPC meet.

ICICI Bank Cuts Lending Rate Across Tenure
 

As per the lender's website, the rate has been slashed for the overnight, one-month, three-month, six-month and one-year tenors by five basis points (bps) to 8.50%, 8.50%, 8.55%, 8.70% and 8.75% respectively, according to the lender's website.

In December 2018 ICICI Bank last cut its MCLR on one-month, three-month and six-month tenors by 10 bps each to 8.55%, 8.60% and 8.75%, respectively.

Also, the RBI proposed that loans be benchmarked to external benchmark such as the repo rate or the 91-day or 182-day treasury bill instead of the MCLR. And the move has come into effect from April 1, 2019.

GoodReturns.in

Read more about: icici bank loan mclr
Story first published: Tuesday, April 2, 2019, 9:59 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more