Karnataka Bank revises MCLR

New Delhi: Karnataka Bank has cut marginal cost based lending rate (MCLR) for different tenors from today.

The overnight MCLR will be 0.50 percent less at 8.40 percent while for one month loan, it is being reduced by 0.55 percent to 8.45 percent, the bank said in a BSE filing.

For three months, the cut is 0.10 percent at 8.55 percent from today.

Six months tenor loans will be priced at 8.70 percent and for one-year period it will be 8.90 percent.

Banks review the MCLR based interest every month.