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Informist, Friday, Jun. 12, 2026

 

--Indian Overseas Bank to up MCLR by 5 bps across 1-mo, 1-yr, 2-yr tenures 

 

NEW DELHI – Indian Overseas Bank has raised the marginal cost of funds-based lending rate by 5 basis points each on one-month, one-year, and two-year tenures, the state-owned bank informed stock exchanges Friday. The revised rates will come into effect Monday.

 

Rates on other tenures remain unchanged. The bank's MCLR now ranges from 7.90% to 8.85%. Reserve Bank of India norms require banks to review their MCLR every month.

 

For the March quarter, the bank reported a net profit of INR 15.05 billion on a total income of INR 97.80 billion. Friday, the bank's shares ended at INR 33.37 on the National Stock Exchange, up 2.9% from the previous close.

 

Tenor	Revised rate (%)	Previous rate (%)
Overnight MCLR	7.90	7.90
One-month MCLR	8.25	8.20
Three-month MCLR	8.40	8.40
Six-month MCLR	8.65	8.65
One-year MCLR	8.80	8.75
Two-year MCLR	8.80	8.75
Three-year MCLR	8.85	8.85

 

End

 

Reported by Shubham Rana

Edited by Saji George Titus

 

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