The benchmark one-year MCLR, which is mainly factored in to decide most consumer loan rates, has been reduced to 8.20 per cent from 8.25 per cent. Rates for all other tenor loans, from overnight to six-month period, have been reduced by a similar quantum each to the range of 7.80 - 8 per cent, the private sector lender said.source https://economictimes.indiatimes.com/industry/banking/finance/banking/south-indian-bank-cuts-mclr-by-0-05-pc-across-tenors/articleshow/78191645.cms
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