Price Update12 Jun 2026, 05:51 pm
IOB Revises MCLR Rates Effective June 15, 2026
AI Summary
Indian Overseas Bank (IOB) has announced revisions to its Marginal Cost of Funds based Lending Rate (MCLR) effective June 15, 2026. The overnight, three-month, six-month, and three-year MCLR rates remain unchanged. However, the one-month MCLR has been increased by 5 basis points to 8.25%, and the one-year and two-year MCLR rates have also been increased by 5 basis points to 8.80%. This adjustment impacts the cost of loans for customers based on these tenors.
Key Highlights
- IOB revises MCLR rates effective June 15, 2026.
- One-month MCLR increases by 5 bps to 8.25%.
- One-year and two-year MCLR increase by 5 bps to 8.80%.
- Overnight, three-month, six-month, and three-year MCLR remain unchanged.
- This impacts lending rates for various loan tenors.
Price Impact
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