Price Update31 Aug 2026, 04:27 pm
Bank of India Changes Fixed Rate Spread (FRS) Effective 01-09-2026
AI Summary
Bank of India has announced a change in its Fixed Rate Spread (FRS) effective September 1, 2026. While the Marginal Cost of Fund based Lending Rate (MCLR) and Repo Based Lending Rate (RBLR) will remain unchanged, the FRS will be adjusted across various tenors. The new rates for FRS range from 8.75%+CRP for a 1-year tenor to 8.75%+Tenor Premium+CRP for tenors above 5 years, with specific rates for 2, 3, and 5-year tenors also detailed. This change impacts the bank's lending strategy and pricing for certain loan products.
Key Highlights
- Bank of India to adjust Fixed Rate Spread (FRS) from September 1, 2026.
- MCLR and RBLR rates will remain unchanged.
- FRS rates vary by tenor, from 1 year to above 5 years.
- New FRS rates are structured with a base rate plus additional components.
Price Impact
More from BANKINDIA