Price Update29 Sept 2026, 01:39 pm
Bank of India Updates Lending Rates Effective Oct 2026
AI Summary
Bank of India has announced changes to its Fixed Rate Spread (FRS) effective October 1, 2026. While the Marginal Cost of Fund based Lending Rate (MCLR) and Repo Based Lending Rate (RBLR) will remain unchanged from the same date, the FRS will see adjustments. The filing details the new MCLR rates for various tenors, ranging from 7.85% for Overnight to 8.90% for a 3-Year tenor. Additionally, the bank has outlined the revised Fixed Rate Spread applicable from September 1, 2026, for tenors including 1Yr, 2Yr, 3Yr, 5Yr, and Above 5 Yr, with rates expressed as a base plus a Credit Risk Premium (CRP) or Tenor Premium.
Key Highlights
- Bank of India to change Fixed Rate Spread (FRS) from Oct 1, 2026.
- MCLR and RBLR rates remain unchanged from Oct 1, 2026.
- New MCLR rates range from 7.85% to 8.90% for various tenors.
- Revised FRS details provided for tenors up to 5+ years.
- Changes align with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Price Impact
More from BANKINDIA