has announced a reduction in its Marginal Cost of Funds-based Lending Rates (MCLR) by up to 10 basis points across select loan tenures, effective from November 7. The lowest MCLR has been reduced from 8.45% to 8.35%, while the highest MCLR has been cut from 8.65% to 8.60%. This change will impact borrowers with MCLR-linked loans during their next reset period, potentially resulting in lower EMIs. However, loans linked to external benchmarks like the RBI's repo rate will not be affected. Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations.