Bank of India on Tuesday announced a reduction in its Marginal Cost of Funds Based Lending Rate (MCLR) across key tenures, effective January 1, 2026, according to a regulatory filing with stock exchanges .
As per the disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the public sector lender has lowered its overnight, one-month, three-month, six-month, one-year and three-year MCLR rates.
The overnight MCLR has been reduced to 7.70% from 7.95%, while the one-month MCLR now stands at 8.05% compared with 8.30% earlier. The three-month MCLR has been revised down to 8.20% from 8.45%, and the six-month MCLR has been cut to 8.60% from 8.70%.
For longer tenures, the one-year MCLR has been reduced to 8.75% from 8.85%, while the three-year MCLR now stands at 8.90% versus 9.00% earlier.
The bank clarified that there is no change in its Repo Based Lending Rate (RBLR), Fixed Rate Spread (FRS), or Base Rate, which will continue at existing levels.
The revised rates will be applicable from January 1, 2026, and will impact borrowers whose loans are linked to MCLR benchmarks.
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