South Indian Bank has announced a revision in its Marginal Cost of Funds Based Lending Rates (MCLR) across various tenors, effective from 20th May 2026. The revised rates are set to impact borrowers with different loan tenors, reflecting changes in the bank’s cost of funds.
The new MCLR for an overnight tenor has been set at 7.95%, while the one-month MCLR will now be 8.40%. For borrowers with a three-month loan tenor, the MCLR has been revised to 9.35%. The six-month MCLR has been adjusted to 9.40%, and the one-year MCLR is now 9.45%.
These changes are part of the bank’s regular review of its lending rates, which are influenced by the cost of funds and other market conditions. The adjustments in MCLR are crucial for borrowers as they directly affect the interest rates on loans tied to these benchmarks.
South Indian Bank has made this information available on its official website, ensuring transparency and accessibility for its customers. The bank regularly updates its lending rates to align with the evolving economic environment and funding costs.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).