Karnataka Bank has cut marginal cost based lending rate (MCLR) for different tenors from today.
The overnight MCLR will be 0.50 per cent less at 8.40 per cent while for one month loan, it is being reduced by 0.55 per cent to 8.45 per cent, the bank said in a BSE filing.
For three months, the cut is 0.10 per cent at 8.55 per cent from today.
Six months tenor loans will be priced at 8.70 per cent and for one-year period it will be 8.90 per cent.
Banks review the MCLR based interest every month.
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