South Indian bank makes upward revision in Lending Rates

19 Aug 2022 , 12:35 PM

South Indian Bank Limited informed that it has revised the Marginal Cost of Funds Based Lending Rates (MCLR) applicable for multiple tenors.

These rates have been revised effective from August 20, 2022.

The bank has revised overnight MCLR to 7.85%. While one-month MCLR has been revised to 7.90%.

Bank revised the three-month MCLR to 8.00% for the new period.

Further, the six-month MCLR has been revised to 8.20%.

Bank’s One-year MCLR has been increased to 8.55%, being the highest rate charged.

South Indian Bank was trading at Rs7.95 down by Rs0.11 or 1.36% from its previous closing of Rs8.06 on the BSE. The scrip touched intraday high and low of Rs8.19 and Rs7.90 respectively.