NEW DELHI: State-owned Bank of Baroda on Thursday said it has slashed the benchmark one-year marginal cost of funds based lending rate (MCLR) by 0.05 per cent.
The lender said in a regulatory filing said that the bank has approved the revision in MCLR with effect from June 12, 2021. The MCLR for one-year tenor stands revised to 7.35 per cent. Among others, the six-month and three-month tenor MCLRs have also been slashed by 0.05 per cent each to 7.20 per cent and 7.10 per cent, respectively.
Bank of Baroda stock closed 3.54 per cent up at Rs 84.75 apiece on BSE.