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The ICICI Bank has reduced its lending rate by 0.70 percent which will make home, auto and other loans cheaper.
ICICI has said in a statement that it has reduced the marginal cost of funds based lending rate (MCLR) by 0.7 percent to 8.20 percent for 1-year tenure.
In other tenures also the similar cut has been made effective.
According to the bank, “The revised MCLR benchmarks effective from January 3.”
