South Indian Bank raises MCLR by 5 bps across tenures effective Fri
This story was originally published at 19:00 IST on 18 March 2026
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--South Indian Bank ups MCLR by 5 bps across tenures
MUMBAI – South Indian Bank Ltd. Wednesday raised its marginal cost of funds-based lending rates by 5 basis points across tenures, effective Friday. The bank's revised MCLR now ranges from 8% to 9.50% for overnight to one-year tenures, it said in an exchange filing.
The norms of the Reserve Bank of India require banks to review their MCLR every month. For the December quarter, South Indian Bank had reported a net profit of INR 3.74 billion and a total income of INR 30.03 billion. Wednesday, its shares closed 0.6% higher at INR 37.17 on the National Stock Exchange.
South Indian Bank's marginal cost of funds-based lending rates for various tenures are as follows:
|
Tenure |
Revised rate (%) |
Previous rate (%) |
|
Overnight MCLR |
8.00 |
7.95 |
|
One-month MCLR |
8.45 |
8.40 |
|
Three-month MCLR |
9.40 |
9.35 |
|
Six-month MCLR |
9.45 |
9.40 |
|
One-year MCLR |
9.50 |
9.45 |
End
Reported by Diksha Tripathy
Edited by Rajeev Pai
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