4 large banks deductible interest rates

Four public sector banks have cut interest rates. These include Indian Bank, Vijaya Bank, Punjab and Sind Bank and IDBI Bank. On Wednesday, Indian Bank and Vijaya Bank cut the interest rates by 45 basis points. At the same time, Punjab & Sind Bank has reduced 45 basis points in MCLR based on overnight marginal cost of funds. The rate has decreased from 8.60 percent to 8.15 percent. At the same time, this bank has cut the base rate by 8.20 per cent in one month's MCLR. On the other hand, the one-year MCLR has reduced from 15 points to 8.55 percent.

                                                       

Indian Bank of Chennai has reduced MCLR 15 basis points of all categories. Vijaya Bank has reduced rates in two categories. It has reduced the MCLR 15 basis point of one year to 8.50 per cent. IDBI Bank has cut rates of 5 to 10 basis points in many categories. The deduction of these interest rates will make home loans, car loans and other loan related to MCLR cheap.