#1
3rd January 2018, 12:18 PM
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Lending Rate of Bank of Baroda
Can you tell me in detail about the Marginal Cost of funds based Lending Rate (MCLR) of BOB (Bank of Baroda)?
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#2
3rd January 2018, 01:43 PM
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Re: Lending Rate of Bank of Baroda
On 2nd Aug 2017 RBI has announced 25 bps cut in repo rate to 6.0% from 6.25%. This may reduce EMIs on home loan and personal loan after banks reduce MCLR and pass on rate cut to customers Current MCLR of Bank of Baroda ranges from 8.10% to 8.65% depending on the reset frequency of the loan. Rates are revised every month. RBI (Reserve Bank of India) requires banks to set their own MCLR Rate based on their marginal cost of funds. RBI does not decide the MCLR Rate of any bank. MCLR rate can be revised by Bank of Baroda every month. It is not mandatory for Bank of Baroda to revise its rate every month and it may choose to retain the same rate for a longer period. Bank of Baroda MCLR, Base Rate Tenure 8.10% Overnight 8.15% 1 Month 8.20% 3 Month 8.30% 6 Month 8.35% 1 Year 8.50% 3 Year 8.65% 5 Year Past Trend MCLR Rate of Bank of Baroda Revised Date Overnight MCLR 1 Month MCLR 3 Month MCLR 07th Jul 17 8.10% 8.15% 8.20% 07th Jun 17 8.10% 8.15% 8.20% 07th May 17 8.10% 8.15% 8.20% 07th Apr 17 8.10% 8.15% 8.20% 07th Mar 17 8.10% 8.15% 8.20% 07th Feb 17 8.10% 8.15% 8.20% 07th Jan 17 8.10% 8.15% 8.20% |