Price Update6 Jul 2026, 12:27 pm
Tamilnad Mercantile Bank Revises MCLR Rates Effective July 7, 2026
AI Summary
Tamilnad Mercantile Bank Limited has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR). The new rates will be effective from July 7, 2026. Key tenors like Overnight and One Month MCLR will increase from 7.60% to 7.70%. Three Month MCLR will move from 8.30% to 8.40%, Six Month MCLR from 8.85% to 8.95%, and One Year MCLR from 9.25% to 9.35%. This adjustment is in line with regulatory requirements and market conditions.
Key Highlights
- MCLR rates revised effective July 7, 2026.
- Overnight and One Month MCLR increase by 10 basis points.
- One Year MCLR increases by 10 basis points to 9.35%.
- The revision impacts the bank's lending rates across various tenors.
Price Impact
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