Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Bank of Baroda Slashes Lending Rate by 10 Basis Points, Loans to Get Cheaper

The rate cut by Bank of Baroda comes a month after The Reserve Bank of India slashed key lending rate by 0.25 percentage points to 6.25 per cent on expectation of inflation staying within its target range.

PTI

Updated:March 5, 2019, 4:58 PM IST
facebookTwitterskypewhatsapp
Bank of Baroda Ropes in IBM, Accenture For 'Increased Digitisation'. (Image: Reuters)
File photo of a Bank of Baroda branch.
Loading...

New Delhi: State-owned Bank of Baroda (BoB) on Tuesday cut benchmark lending rate by 0.1 percentage points, a move that would make home, auto and other loans cheaper.

The bank has reduced the lending rate by 10 basis points across all tenors up to one year.

The new rates are effective from March 7, BoB said in a regulatory filing.

The Marginal Cost of Funds Based Lending Rate (MCLR) for overnight and one-month tenors would be 8.25 per cent and 8.30 per cent, respectively, it said.

The MCLR for one-year tenor was slashed to 8.65 per cent from 8.75 per cent. Most of the retail loans are benchmarked against one-year MCLR.

The rate cut comes a month after The Reserve Bank slashed key lending rate by 0.25 percentage points to 6.25 per cent on expectation of inflation staying within its target range.

Banks have been lagging in passing on the RBI rate cuts to end-borrowers, citing higher credit cost due to the massive NPA piles.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 68.55 0.88
Maruti Suzuki 6,450.30 0.91
Tata Motors 129.55 1.25
HDFC Bank 2,257.45 -0.59
Axis Bank 674.25 1.71
Company Price Change %Gain
IEX 118.10 -9.71
Yes Bank 68.60 0.96
Reliance 1,225.55 1.26
Tata Motors 129.55 1.25
Maruti Suzuki 6,449.80 0.91
Top Gainers
Company Price Change %Gain
BPCL 408.55 6.34
IOC 130.10 4.58
Titan Company 1,123.40 3.43
GAIL 129.25 2.78
ICICI Bank 413.40 2.66
Company Price Change %Gain
Vedanta 149.20 2.72
ICICI Bank 413.25 2.61
ONGC 128.80 2.34
Kotak Mahindra 1,483.55 1.79
Axis Bank 674.35 1.74
Top Losers
Company Price Change %Gain
Bharti Airtel 343.05 -1.29
Dr Reddys Labs 2,731.55 -1.28
Sun Pharma 422.85 -1.16
HDFC Bank 2,257.45 -0.59
ITC 239.90 -0.35
Company Price Change %Gain
Bharti Airtel 342.75 -1.35
Sun Pharma 423.25 -1.04
HDFC Bank 2,256.25 -0.62
ITC 239.95 -0.35
HUL 1,804.80 -0.10

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results