SBI, Bank of Baroda and Indian Overseas Bank reduce MCLR
In a significant move that could impact lakhs of borrowers, State Bank of India (SBI), Bank of Baroda (BoB), and Indian Overseas Bank (IOB) have announced a reduction in their Marginal Cost of Funds-based Lending Rate (MCLR) across select tenures. The revision in lending rates is expected to make home loans, car loans, and personal…