Quarterly Updates14 Jul 2025, 06:21 pm
Indian Overseas Bank Reduces MCLR by 10 bps Across Tenors
AI Summary
Indian Overseas Bank has announced a reduction in its Marginal Cost of Funds based Lending Rate (MCLR) by 10 basis points across all tenors. The revised MCLR will be effective from July 15, 2025. The new MCLR rates are as follows: Overnight MCLR - 8.15%, One-Month MCLR - 8.40%, Three-Month MCLR - 8.55%, Six-Month MCLR - 8.80%, One-Year MCLR - 9.00%, Two-Year MCLR - 9.00%, and Three-Year MCLR - 9.05%.
Key Highlights
- Indian Overseas Bank reduces MCLR by 10 bps across all tenors
- Revised MCLR effective from July 15, 2025
- New MCLR rates: Overnight - 8.15%, One-Month - 8.40%, Three-Month - 8.55%, Six-Month - 8.80%, One-Year - 9.00%, Two-Year - 9.00%, Three-Year - 9.05%