South Indian Bank raises MCLR by 5 bps across tenures from Mon
This story was originally published at 10:14 IST on 20 July 2026
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--South Indian Bk to raise MCLR by 5 bps across tenures from Mon
MUMBAI – South Indian Bank has raised its marginal cost of funds-based lending rates by 5 basis points across tenures, the lender said in an exchange filing Saturday. The new rates are effective from Monday. The bank's MCLR now range from 8.00% to 9.50% for tenors from overnight to one year.
The Reserve Bank of India's norms require banks to review the MCLR monthly. The RBI's Monetary Policy Committee last month left the repo rate unchanged at 5.25%.
For the March quarter, South Indian Bank had reported a consolidated net profit of INR 3.78 billion on total income of INR 30.07 billion. At 0956 IST, shares of the bank were at INR 44.38 on the National Stock Exchange, down 0.5% from the previous close.
Tenure | Previous rate (%) | Revised rate(%) |
Overnight MCLR | 7.95 | 8.00 |
One-month MCLR | 8.40 | 8.45 |
Three-month MCLR | 9.35 | 9.40 |
Six-month MCLR | 9.40 | 9.45 |
One-year MCLR | 9.45 | 9.50 |
End
US$1 = INR 96.44
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Janwee Prajapati
Edited by Avishek Dutta
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