Indian Overseas Bank reduces one-month MCLR by 10 bps effective 15 March 2026 | Business Upturn

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Indian Overseas Bank has announced a reduction in its one-month Marginal Cost of Funds based Lending Rate (MCLR) by 10 basis points, effective from 15 March 2026. This decision was made during the Asset Liability Management Committee meeting held on 12 March 2026.

The revised one-month MCLR will now stand at 8.20%, down from the previous rate of 8.30%. Other MCLR tenors, including overnight, three-month, six-month, one-year, two-year, and three-year, remain unchanged at 7.95%, 8.40%, 8.65%, 8.80%, 8.80%, and 8.85% respectively. The bank’s adjustment reflects its ongoing efforts to optimise its lending rates in line with market conditions.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

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TOPICS: Chennai Indian Overseas Bank Raghuram Mallela