Oriental Bank of Commerce (OBC) has cut its marginal cost of funds-based lending rates (MCLR) by up to 25 basis points across tenors. With this move, the overnight MCLR has come down to 7.90 per cent from 8.15 per cent now.
One-year MCLR has now come down to 8.40 per cent from 8.55 per cent. One-month MCLR is now 8 per cent (8.20 per cent); three-month MCLR is 8.15 per cent (8.35 per cent); and six-month MCLR is 8.30 per cent (8.45 per cent). The revised rates will be applicable from Tuesday, an OBC statement said.