Indian Overseas Bank Revises MCLR Rates

Indian Overseas Bank has announced a revision in its Marginal Cost of Funds based Lending Rate (MCLR) effective from October 15, 2026. The overnight MCLR has been increased by 5 basis points to 7.95%. Similarly, the three-month, six-month, one-year, two-year, and three-year MCLR rates have also been revised upwards by 5 basis points each, reaching 8.50%, 8.75%, 8.90%, 8.90%, and 8.95% respectively. The one-month MCLR remains unchanged at 8.25%. These revised rates will be in effect until further review.