5 PSU banks cut lending rates in line with RBI's policy

5 PSU banks cut lending rates in line with RBI's policy

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Bank of Baroda has reduced its external benchmark-linked lending rates for loans catering to Retail and MSME segments.

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The Bank's Overnight Marginal Cost of Funds-Based Lending Rate (MCLR) stands at 8.15 per cent, and its One-Year MCLR is 9 per cent.

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Chennai-based Indian Bank said its Repo-Linked Benchmark Lending Rates (RBLR) will be lowered by 35 basis points to 8.70 per cent effective April 11.

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PNB has revised RBLR from 9.10 per cent, to 8.85 per cent with effect from April 10.

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Bank of India's new RBLR stands at 8.85 per cent, compared to 9.10 per cent earlier.

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UCO Bank said it has brought down the repo-linked rate to 8.8 per cent

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