Indian Overseas Bank revises lending rates

10 Aug 2022 , 01:31 AM

Indian Overseas Bank has revised the Marginal Cost of funds Repo Linked Lending Rate and Benchmark Prime Lending Rate with effect from 10 August 2022 Tenor-wise MCLR Overnight – 695Percentage One month – 705Percentage Three month – 760Percentage Six month – 760Percentage One year – 765Percentage Two year – 770Percentage Three year – 770Percentage The Bank has revised the Repo Linked Lending Rate to 825Percentage ie 540Percentage 285Percentage with effect from 10 August 2022 The Bank has reduced the Benchmark Prime Lending Rate of the Bank by 200 basis points from existing 1550Percentage to 1350Percentage with effect from 10 August 2022