Diabytes
MCLR rate News
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The lower rates took effect on April 10, 2023.
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Banks switched to MCLR as their new benchmark lending rate from June last year, replacing the base rate system for new borrowers.
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Accounts with a balance of 10 million rupees ($155,994.07) and less will earn 3.5 percent per annum effective July 31, while those above 10 million rupees will continue to earn 4 percent per annum, the bank said in a statement.
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