Price Update13 Aug 2026, 06:32 pm
Indian Overseas Bank Revises MCLR Rates Upwards
AI Summary
Indian Overseas Bank has announced a revision in its Marginal Cost of Funds based Lending Rate (MCLR) effective August 15, 2026. The bank has increased the MCLR for tenors ranging from three months to three years by 5 basis points. The Overnight and One-Month MCLR remain unchanged. This adjustment will impact the interest rates on loans linked to these MCLR benchmarks.
Key Highlights
- MCLR revised effective August 15, 2026.
- Increases range from 5 bps for 3-month to 3-year tenors.
- Overnight and 1-month MCLR rates remain unchanged.
- Impacts lending rates for various loan tenors.
Price Impact
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