Price Update30 Jul 2026, 05:10 pm
Bank of India Revises MCLR and Fixed Rate Spread Effective Aug 1, 2026
AI Summary
Bank of India announced revisions to its Marginal Cost of Funds based Lending Rate (MCLR) and Fixed Rate Spread (FRS), effective August 1, 2026. The Repo Based Lending Rate (RBLR) remains unchanged. The MCLR saw minor adjustments across various tenors, with the 3-month MCLR increasing to 8.35% and the 1-year MCLR to 8.80%. The Fixed Rate Spread also saw changes for tenors ranging from 1 year to above 5 years. These changes were decided at the bank's ALCO meeting and are in compliance with SEBI regulations.
Key Highlights
- MCLR and Fixed Rate Spread revised effective August 1, 2026.
- Repo Based Lending Rate (RBLR) remains unchanged.
- Key MCLR tenors like 3-month and 1-year have seen increases.
- Fixed Rate Spreads adjusted for tenors from 1 year upwards.
- Changes approved by the bank's Asset Liability Committee (ALCO).
Price Impact
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