CSB Bank cuts MCLRs by 10 bps for tenures up to 6 months

CSB Bank on Monday announced a cut in short-term rates based on marginal cost of fund based lending rates (MCLRs) by 0.10 percentage point for various tenures up to 6 months.

The benchmark one-year MCLR, upon which most of the consumer loans are set, however, has been kept unchanged at 9.50 percent.

The bank in a regulatory filing said it has revised the MCLR by 0.10 percentage point each for tenures ranging from overnight to six-months with effect from December 1.

The revised rates will be in the range of 7.70-8.50 percent, it said.