Bank Of Baroda keeps one-year MCLR unchanged at 7.3%

State-owned Bank of Baroda on Monday announced that it is keeping the benchmark one-year marginal cost of funds-based lending rate (MCLR) unchanged at 7.3 per cent. The bank has approved the review of MCLR with effect from January 12, 2022.

Among others, the six-month and three-month tenor MCLRs have also been kept unchanged at 7.15 per cent and 7.05 per cent, respectively, the lender said in a regulatory filing.

Bank of Baroda stock closed 5.19 per cent up at Rs 92.15 apiece on BSE.

Earlier in June, the lender had slashed MCLR by 0.05 per cent.

In December, the lender had announced the launch of the wearable line of products for small-ticket payments up to Rs 5,000 through the BoB World Wave in association with the National Payments Corporation of India (NPCI).

The BoB World is the bank's digital banking product, and BoB World Wave is to offer customised wearable payments solutions, providing a swift and convenient way to make payments on the go.

Customers can make on-the-go payments of up to Rs 5,000 without any PIN while shopping on the PoS machine, the bank said at the announcement here.