Bank of Baroda trims MCLR by 5bps on various tenor effective from 12-November
Bank of Baroda trims MCLR by 5bps on various tenor effective from 12-November
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State-owned Bank of Baroda on Wednesday slashed the Marginal Cost of Funds Based Lending Rate by 5 basis points on various tenors. The Marginal Cost of Funds Based Lending Rate will be 7.45 percent on 1-year tenor from current 7.50 percent. For six month tenor, the lending rate will be 7.30 percent from present 7.35 percent. While for six-month tenor, the same will stand at 7.20 percent from current 7.25 percent.

MCLR will be at 7.05 percent on one-month tenor from current 7.10 percent, whereas MCLR will stand at 6.60 percent from present 6.65 percent.  The new rates will come into effect from November 12, 2020.

IN its profile, Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services. The Bank offers personal banking services, such as deposits, loans, mobile banking and wealth management services. The Bank operates a network of approximately 5,330 branches.

Looking to Bank of Boroda Stock today during the noon session on the National Stock Exchange, the share price quoted at Rs.47.30 , down by 1.87 percent from the previous closing. The stock has touched an intraday high and low of Rs48.90 per piece and Rs47 per piece respectively. 

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