Bank of India fixes MCLR rates at 9-9.35% from Oct 7

Public sector lender Bank of India today said it has fixed marginal cost of funds based lending rate (MCLR) at 9-9.35 per cent with effect from October 7.

The bank has fixed the marginal cost of funds based lending rates with effect from October 7, 2016, it said in a regulatory filing.

For overnight tenor, the rate will be 9 percent, 9.2 percent for three months, 9.25 percent for six months and 9.35 percent for one year.

Shares of Bank of India closed 0.8 percent higher at Rs 119.75 apiece on BSE.