ICICI Bank Cuts Lending Rates: MCLR linked loans 1st Sep

ICICI bank

ICICI bank cuts lending rates.

ICICI bank


ICICI Bank, the second largest private sector bank. On wednesday cut its lending rates by 0.10 per cent for all maturity periods. The bank say, “All rate cuts have done under the MCLR”. With this reduction, the bank has reduced the total by 0.20 percent since April. This rate will be effective from September 1. After which the bank’s one-year MCLR will be 8.55 percent. While the overnight MCLR will be 8.30 percent. A one-year M C L R is considered very important from the perspective of retail loans. Currently, HDFC Bank’s one-year MCLR is 8.60 percent so far, while AXIS Bank. The third largest lender of the private sector, is 8.55 percent.

The last time it reviewed its interest rates in the first week of July, the bank had reduced it by 0.05 per cent. Explain that even after the rate cut by the RBI, the top bank has expressed disappointment over the other banks not giving its benefit to the customers. RBI has cut the rate four times in 2019. The total deduction of the bank is 1.10 per cent, since April the bank has cut it by 0.85 per cent.

According to the RBI, banks have given only 0.30 per cent benefit to the borrowers till August, while the benefit of the 0.75 per cent deduction has not yet been passed on to the customers.

Important Thing :-

Also read Huawei Nova 5T Gaming Lunch With 5 camera, Infinix Hot 8: 5000MAh Battery In India At 6,999, Xiaomi Mi A3 vs Motorola One Action vs Realme 5 Pro: Best ?

According to the information given on Amazon India, Samsung Galaxy M30s smartphone with 6000 mAh battery will be launched in India on September 18. See this post. It is the great smartphone ever. Recently, Google added some specifications of this phone. But the company was not officially given any information about its launch and specifications yet. At the same time, ecommerce website Amazon India has revealed the Galaxy M30s date. Click here

Support us by visiting IndiazTech via Searching Google.

Leave a Reply

Written by Anil Patil

Author & Creator of Aero Post, - Passionate SEO, Blogger, And WordPress Developer,

Infinix Hot 8

Infinix Hot 8: 5000MAh battery in India at 6,999

Grow Traffic on any site, WordPress, Php, Blogger