Indian Overseas Bank revises lending rates

8 Aug 2022 , 09:34 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 – 6.95%
One month – 7.05%
Three month – 7.60%
Six month – 7.60%
One year – 7.65%
Two year – 7.70%
Three year – 7.70% The Bank has revised the Repo Linked Lending Rate to 8.25% (i.e. 5.40% + 2.85%) with effect from 10 August 2022. The Bank has reduced the Benchmark Prime Lending Rate of the Bank by 200 basis points from existing 15.50% to 13.50% with effect from 10 August 2022. Powered by Capital Market – Live News