South Indian Bank revises MCLR rates

18 Jan 2022 , 02:36 PM

South Indian Bank announced changes in Marginal Cost of Funds Based Lending Rates (MCLR) on Tuesday, effective from 20th January 2022.

The bank stated that overnight MCLR rates will be 7.75%, while rates for one month, three-month, and six-month MCLR will be 7.80%, 7.85%, and 7.95% respectively. However, the rates for one-year MCLR will be higher at 8.15%.

South Indian Bank Limited is a major private sector bank headquartered at Thrissur in Kerala, India. South Indian Bank has 924 branches, 4 service branches, 53 extension counters and 20 Regional Offices spread across India.

South Indian Bank Ltd is currently trading at Rs9.21 down by Rs0.01 or 0.11% from its previous closing of Rs9.22 on the BSE. The scrip opened at Rs9.24 and has touched a intraday high and low of Rs9.29 and Rs9.18 respectively.