MCLR | Business Upturn

Bank of Maharashtra revises MCLR with changes effective from April 30, 2026

Business Desk — Thu, 30 Apr 2026 08:35:36 +0000

The Bank of Maharashtra has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR), effective from 30th April 2026. The review has led to adjustments in various tenors, reflecting the bank’s strategic response to current financial conditions.

The overnight MCLR has been reduced from 7.75% to 7.65%, offering a slight relief to borrowers opting for short-term loans. Meanwhile, the one-month MCLR remains unchanged at 8.20%, indicating stability in this specific lending segment.

For the three-month tenor, the MCLR has been increased from 8.45% to 8.55%, suggesting a strategic adjustment to align with the bank’s financial objectives. The six-month and one-year MCLR rates remain steady at 8.70% and 8.85% respectively, maintaining consistency for borrowers with medium to long-term lending needs.

These revisions are in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and reflect the bank’s ongoing commitment to optimising its lending rates in response to market dynamics.

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

Karur Vysya Bank revises MCLR rates effective April 22, 2026

Business Desk — Sat, 18 Apr 2026 12:58:48 +0000

Karur Vysya Bank has announced a revision in its Marginal Cost of Funds Based Lending Rates (MCLR), effective from April 22, 2026. The adjustments reflect a slight increase across various tenures.

The overnight MCLR will see an increase from 8.80% to 8.85%. Similarly, the one-month and three-month MCLR rates will rise from 8.95% to 9.00%. The six-month and one-year MCLR rates will both increase from 9.10% to 9.15%.

This revision in MCLR rates is in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates timely disclosure of significant changes in lending rates.

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

Indian Overseas Bank reduces MCLR by 5 bps effective 15 April 2026

Yash Agarwal — Mon, 13 Apr 2026 13:32:13 +0000

Indian Overseas Bank has announced a reduction in its Marginal Cost of Funds based Lending Rate (MCLR) by 5 basis points (bps) for select tenors. This decision was made during the Asset Liability Management Committee (ALCO) meeting held on 13 April 2026. The revised rates will come into effect from 15 April 2026.

The bank has reduced the Overnight, 1-Year, and 2-Year MCLR by 5 bps each. The Overnight MCLR will decrease from 7.95% to 7.90%, while the 1-Year and 2-Year MCLR will both be reduced from 8.80% to 8.75%. The rates for the One-Month, Three-Month, Six-Month, and Three-Year MCLR remain unchanged at 8.20%, 8.40%, 8.65%, and 8.85%, respectively.

The revised MCLR rates are part of the bank’s periodic review of its lending rates, aimed at ensuring competitive pricing for its customers. The changes are effective from 15 April 2026 and will remain in place until the next review.

The decision to revise the MCLR is significant for borrowers as it directly impacts the interest rates on loans linked to these benchmarks. A reduction in MCLR typically results in lower interest rates for borrowers, thereby reducing the cost of borrowing.

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

Bank of Baroda maintains MCLR rates across all tenors

Kinjal — Fri, 10 Apr 2026 12:42:47 +0000

Bank of Baroda has announced that it will maintain its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenors, effective from 12th April 2026. The bank’s decision to keep the MCLR unchanged comes amidst a careful review of the current financial environment.

The MCLR for the overnight tenor remains at 7.80%, while the one-month tenor is steady at 7.90%. The three-month MCLR continues to be 8.15%, and the six-month rate is held at 8.45%. The one-year MCLR also remains unchanged at 8.70%.

This decision aligns with the bank’s ongoing strategy to provide stability in lending rates, ensuring that borrowers are not subjected to sudden fluctuations in interest costs. The unchanged rates reflect the bank’s assessment of the current cost of funds and market conditions.

The MCLR is a crucial benchmark for determining the interest rates on various loans, including home and auto loans. By maintaining the existing MCLR, Bank of Baroda aims to offer consistent and predictable loan pricing for its customers.

The bank has requested the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE) to take note of this update and upload the information on their respective websites.

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

Bank of Maharashtra revises overnight MCLR to 7.75% effective 31 March 2026

Arunika Jain — Mon, 30 Mar 2026 13:17:20 +0000

Bank of Maharashtra has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR), effective from 31 March 2026. The overnight MCLR has been reduced from 7.90% to 7.75%, marking a notable change in the bank’s lending rates.

The bank’s decision to adjust the overnight MCLR comes as part of a routine review of its benchmark rates. However, the MCLR for other tenors, including one month, three months, six months, and one year, will remain unchanged. The rates for these tenors are 8.20%, 8.45%, 8.70%, and 8.85%, respectively.

This adjustment is aligned with the bank’s strategy to optimise its lending rates, potentially benefiting borrowers with reduced interest costs on overnight loans. The unchanged rates for other tenors indicate stability in the bank’s lending strategy for those durations.

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency and timely disclosure of significant changes affecting stakeholders.

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

South Indian Bank revises MCLR rates effective 20th March 2026

Yash Agarwal — Wed, 18 Mar 2026 14:52:06 +0000

South Indian Bank has announced a revision in its Marginal Cost of Funds Based Lending Rates (MCLR) for various tenors, effective from 20th March 2026. This update, in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015, outlines the new rates applicable for different borrowing periods.

The revised MCLR for an overnight tenor is set at 8.00%, while the one-month MCLR is adjusted to 8.45%. For a three-month period, the MCLR is now 9.40%, and for six months, it stands at 9.45%. The one-year MCLR has been revised to 9.50%.

These changes are part of the bank’s regular review of its lending rates, which are influenced by the cost of funds and other economic factors. The updated rates are also available on the bank’s official website, www.southindianbank.bank.in.

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

This article is written by Yash Agarwal and reviewed by Aman Shukla before publication.

Bank of Baroda maintains MCLR rates across all tenors

Business Desk — Tue, 10 Mar 2026 12:41:08 +0000

Bank of Baroda has announced that it will maintain its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenors, effective from 12th March 2026. The MCLR for the overnight tenor remains at 7.80%, while the one-month rate is steady at 7.90%. The three-month tenor continues at 8.15%, the six-month at 8.45%, and the one-year tenor at 8.70%.

This decision ensures that the lending rates for various durations remain unchanged, providing stability for borrowers. The bank’s decision is in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015, and the updated rates will be available on the bank’s website.

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

UCO Bank revises benchmark rates effective 10 March 2026

Business Desk — Tue, 10 Mar 2026 12:31:11 +0000

UCO Bank has announced revisions to its benchmark rates, effective from 10 March 2026. The bank’s Asset Liability Management Committee (ALCO) has reviewed and adjusted several rates, including the Marginal Cost of Funds based Lending Rate (MCLR) and Treasury Bill Linked Rates (TBLR).

The MCLR for various tenors has been set as follows: Overnight at 7.90%, One month at 8.15%, Three months at 8.40%, Six months at 8.65%, and One year at 8.75%. The TBLR for three months has been reduced from 5.35% to 5.30%, and for six months from 5.55% to 5.50%. The UCO G-Sec Rate for one year has been adjusted from 5.79% to 5.58%, while the 10-year G-Sec Rate yield to maturity has decreased from 6.89% to 6.83%.

Other benchmark rates, including the Repo Linked Rate, Base Rate, and BPLR, remain unchanged. The revised rates are intended to align with current market conditions and enhance the bank’s financial offerings.

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

SBI increase of lending rates by 5 basis points to be effective by July 15

Avinash Ram — Fri, 14 Jul 2023 15:49:26 +0000

The largest public sector lender in the nation, State Bank of India (SBI), increased the marginal cost of funds-based lending rate (MCLR) on July 14 with effect from July 15. The MCLR-based rates will now vary between 8 percent and 8.75 percent, according to information on SBI’s website. A bank may only offer consumer loans at a minimal cost, or MCLR. A 70 basis point increase in the benchmark prime lending rate (BPLR) was made earlier, on March 15 by the lender.

A month after maintaining its short-term lending rate of 6.50 percent for commercial banks (the repo rate), the Reserve Bank of India (RBI) has announced a rise by SBI. To combat inflation, the RBI has increased interest rates by 225 basis points since May. One tenth of a percentage point is equal to one bps.

The increase in lending rates is thought to be a result of the rate increases that the Monetary Policy Committee of the RBI has been implementing since mid-last year in an effort to control inflation. Governor Shaktikanta Das of the RBI indicated the central bank’s preparedness to respond in accordance with the incoming data while also announcing the intention to pause the repo rate in June 2023.

The rate-setting panel is anticipated to remain on hold for the remainder of the year, with the possibility of a rate decrease if inflation declines on a sustained basis, according to experts, even though the RBI has basically completed its cycle of rate increases.

Bank of Baroda raises MCLR from 8.3% to 8.5% effective January 12

Aryan Jakhar — Tue, 10 Jan 2023 14:21:59 +0000

Bank of Baroda (BoB), a financial company that is part of the public sector, made an announcement on Tuesday that it would raise its marginal cost of funds-based lending rate (MCLR) by up to 35 basis points (bps) across all tenors beginning on January 12. The marginal cost of funds adjustment ratio (MCLR) is the lowest interest rate at which a bank is allowed to lend money, with a few exceptions.

In accordance with the statement, the benchmark MCLR for one year has been raised from 8.3 percent to 8.5 percent, representing an increase of 20 basis points. The overnight MCLR has been increased by 35 basis points, moving the rate up from 7.50% to 7.85%. The one-month MCLR has been increased from 7.95 percent to 8.15 percent, reflecting the increase in inflation. The MCLR has been increased from 8.05 percent and 8.15 percent to 8.25 percent and 8.35 percent, respectively, for three months and six months. Previously, those rates were 8.05 percent and 8.15 percent.

It is anticipated that the increase would have an effect on corporate borrowers. The vast majority of retail lending, which includes mortgages, credit cards, and loans to small and medium-sized businesses, is tied to external benchmarks like as the repo rate.

The marginal corporate lending rate (MCLR) was raised by the bank by up to 30 basis points in December. The trek in January is more challenging than the hike in December and the hike in November.

The benchmark one-year MCLR saw an increase of 25 basis points in December, bringing the rate up to 8.30 percent. After that, the tariff for overnight stays was increased to 7.50 percent, up from 7.25 percent.

In December, Axis Bank and the State Bank of India (SBI), which is the biggest state lender in the nation, both announced that they would be increasing their MCLRs. It was increased by 15 basis points by the SBI, and by 30 basis points by Axis Bank.

This comes at a time when the government bank has been steadily increasing the benchmark repo rate. Since May 2022, the repo rate has been increased by 225 basis points as a result of this.

HDFC Bank slashes MCLR, consumer loans to be cheaper

Chittesh Dalmia — Fri, 07 Aug 2020 07:02:29 +0000

HDFC Bank, the country’s largest private sector bank, cut its marginal-cost based lending rate (MCLR) on loans for all tenors by 10 basis points (bps). The reduction in HDFC Bank’s lending rate will make EMIs on home and other loans tied to its marginal cost of funds based lending rate cheaper.

According to the HDFC Bank website after the latest rate reduction, its overnight MCLR stands reduced to 7%, while one-month MCLR is 7.05%. Three- month and six-month MCLR stand at 7.10 % and 7.20% respectively. One-year MCLR, to which many of the consumer loans are linked, will now be 7.35%, two-year MCLR will now be 7.45%, while three-year MCLR has been set at 7.55%.

State-run Canara Bank too announced reduction in its MCLR by up to 30 basis points across various tenors. The revised lending rates will be effective from August 7, Canara Bank said.

The second largest private sector lender ICICI Bank also cut its lending rates by 10 basis points (bps) across all tenors effective 1st August.

After cutting interest rates by 115 basis points since February, the Monetary Policy Committee (MPC) after three days of deliberations voted unanimously to leave the policy repo rate unchanged at 4%. The MPC also decided to “continue with the accommodative stance of monetary policy as long as necessary to revive growth, mitigate the impact of COVID-19 while ensuring that inflation remains within the target” zone, RBI Governor Shaktikanta Das said.

HDFC Bank’s CEO Aditya Puri’ successor has recently been decided. Read here.

Source: Live Mint