Indian Overseas Bank revises one-year MCLR to 8.90%
Indian Overseas Bank has revised its one-year lending benchmark to 8.90%, with the new rate taking effect on October 15, 2026, Reuters reports.
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what happened
Indian Overseas Bank has reset its one-year marginal cost of funds-based lending rate, or MCLR, at 8.90%.
Reuters reported that the revised rate will become effective on October 15, 2026.
why it matters
The one-year MCLR serves as a lending-rate reference for the bank, so the revision may affect borrowing terms for customers tied to this benchmark.
instruments
sources
- Indian Overseas Bank Says One-Year MCLR Revised To 8.90% — Reuters, 12 October 2026 at 13:09 UTC
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