Finance
EnglishKarur Vysya Bank lowers MCLR: EMIs could get lighter!
Karur Vysya Bank is shaking things up by lowering its MCLR by 10 basis points starting February 22! This means borrowers tied to this rate might see their EMIs drop a bit. The one-month and three-month rates are now at 8.95%, while the six-month and one-year rates are at 9.10%. A little cut can lead to some nice savings over time!
few days ago | Amit Kumar
Quick rundown
1.Karur Vysya Bank cuts MCLR by 10 basis points.
2.Reduction affects all tenors, effective February 22.
3.Borrowers may see EMI savings based on reset dates.
4.MCLR is crucial for pricing floating-rate loans.
5.Existing and new borrowers benefit if linked to MCLR.
