South Indian Bank to cut MCLR by 10 bps across tenures, effective Friday
This story was originally published at 14:02 IST on 18 February 2026
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--South Indian Bank cuts MCLR by 10 bps across tenures
MUMBAI – South Indian Bank will reduce the marginal cost of funds-based lending rate across tenures by 10 basis points, effective Friday, the private-sector bank informed the exchanges Wednesday.
The revised MCLR for the bank will range from 7.95-9.45%. The Reserve Bank of India's norms require banks to review their MCLR every month. The RBI's Monetary Policy Committee left the repo rate unchanged at 5.25% earlier this month, having lowered it by 125 bps in 2025.
The lender's net profit rose 9.4% on year to INR 3.74 billion for the December quarter. AT 1344 IST, shares of the bank were up 1.1% at INR 41.12 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 | 7.95 | 8.05 |
One month | 8.40 | 8.50 |
Three months | 9.35 | 9.45 |
Six months | 9.40 | 9.50 |
One year | 9.45 | 9.55 |
End
Reported by Amruta Kinjale
Edited by Vandana Hingorani
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