New Delhi: Allahabad Bank has reduced the MCLR by 5 basis points across most tenors. The new rates will be effective from 14th Ferbruary.
The one-year MCLR will now become 8.25 percent as against the existing 8.30 percent. The overnight, three-month and six-month MCLRs have been slashed in the range of 7.75-8.10 percent. The one-month MCLR has been retained at 7.85 percent, the bank said in a regulatory filing.
Allahabad Bank has taken the decision after similar decisions by a number of ub sector banks.