Dena Bank Slashes MCLR For Select Tenors

Mumbai-headquartered, Dena Bank has slashed its marginal cost-based lending rates (MCLR) by 0.05% for a select maturity period. The rate cuts are effective from July 1.

The bank has decided rates of 8.35%, 8.45% and 8.55% for 3-month, 6-months and one-year tenors, respectively.

Whereas, for the overnight period 8.20% and for one-month period 8.30% rates have been finalised, respectively.

Generally, banks review their MCLR rates on a monthly basis.

Dena Bank share closed at Rs 33.45 per share higher by Rs 0.15 per share or 0.45% on Friday. It has given negative returns of 14% underperforming the BSE Small Cap and BSE Bankex indices in a period of one year.

The PSU bank’s segments include treasury operations, corporate/ wholesale banking, retail banking and other banking operations. The bank offers deposits and loans, and Internet banking, corporate banking and international banking.

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About Suhani Varma

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