Tamilnad Mercantile Bk ups MCLR by 5 bps for overnight to 6-month loans
This story was originally published at 16:51 IST on 6 February 2026
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--Tamilnad Mercantile Bk ups MCLR by 5 bps for overnight, 1-mo to 6-mo loans
MUMBAI – Tamiland Mercantile Bank Ltd. will raise its marginal-cost-of-funds-based lending rate by 5 basis points for most tenures from Saturday, the bank informed stock exchanges Friday.
The bank will raise the MCLR for overnight, one-month, three-month, and six-month tenures by 5 bps. The revised MCLR will range from 7.55% to 9.25% for overnight to one-year tenures.
The Reserve Bank of India's norms require banks to review their MCLR every month. The RBI's Monetary Policy Committee Friday left the repo rate unchanged at 5.25%, having reduced the rate by 125 bps in 2025.
The Tamil Nadu-based lender reported a net profit of INR 3.42 billion for the December quarter, up 14% on year. On Friday, shares of the bank ended 1.7% lower at INR 632.85 on the National Stock Exchange.
Tamilnad Mercantile Bank's marginal cost of funds-based lending rates for various tenures are as follows:
| Tenure | Revised rate (%) | Previous rate (%) |
| Overnight | 7.55 | 7.50 |
| One month | 7.55 | 7.50 |
| Three-month | 8.25 | 8.20 |
| Six-month | 8.80 | 8.75 |
| One year | 9.25 | 9.25 |
End
Reported by Shubham Rana
Edited by Tanima Banerjee
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