Home, corporate loans to be cheaper this year

Dena bank has reduced marginal cost of funds based lending rate (MCLR) by 0.75 per cent to 8.55 per cent for 1 year tenor, the bank said in a statement.

On Sunday, the country’s largest lender SBI along with PNB and Union Bank of India, slashed lending rates by up to 0.9 per cent.

Following the reduction, lending rate of SBI for a one-year loan has came down to 8 per cent from 8.90 per cent.

From Agencies, Feature image courtesy aafnyc