Indian Overseas Bank cuts MCLR by 5 bps for some tenures effective Mon
This story was originally published at 20:03 IST on 11 September 2025
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--Indian Overseas Bank cuts MCLR by 5 bps for some tenures effective Mon
MUMBAI – Indian Overseas Bank has reduced the marginal cost of funds-based lending rates by 5 basis points for its overnight, one-year, two-year and three-year tenures, effective Monday, the state-owned bank informed exchanges Thursday. The revised MCLR for the bank now ranges from 8.00-8.90%.
The bank has left the MCLR for the one-month, three-month, and six-month tenures unchanged. The Reserve Bank of India's norms require banks to review their MCLR every month.
Indian Overseas Bank's net profit surged 76% on year to INR 11.11 billion in Apr-Jun. On Thursday, shares of the bank closed 0.4% lower at INR 39.44 on the National Stock Exchange.
Indian Overseas Bank's marginal cost of funds-based lending rates for various tenures are as follows:
| Tenure | Revised rate (%) | Previous rate (%) |
| Overnight | 8.00 | 8.05 |
| One month | 8.30 | 8.30 |
| Three months | 8.45 | 8.45 |
| Six months | 8.70 | 8.70 |
| One year | 8.85 | 8.90 |
| Two year | 8.85 | 8.90 |
| Three year | 8.90 | 8.95 |
End
Reported by Cassandra Carvalho
Edited by Avishek Dutta
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