Price Update6 Jun 2026, 05:02 pm
Tamilnad Mercantile Bank Revises MCLR Rates
AI Summary
Tamilnad Mercantile Bank Limited has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR) effective June 7, 2026. The bank has increased its MCLR for overnight and one-month tenors by 5 basis points to 7.60%. The three-month MCLR has been revised to 8.30% (up 5 bps), and the six-month MCLR to 8.85% (up 5 bps). The one-year MCLR remains unchanged at 9.25%. This revision impacts the bank's lending rates across various short-to-medium term tenors.
Key Highlights
- MCLR rates revised effective June 7, 2026.
- Overnight and one-month MCLR increased by 5 bps to 7.60%.
- Three-month and six-month MCLR also increased by 5 bps.
- One-year MCLR remains stable at 9.25%.
Price Impact
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