With effect from 10 August 2022
Indian Overseas Bank has revised the Marginal Cost of funds, Repo Linked Lending Rate and Benchmark Prime Lending Rate with effect from 10 August 2022.
Tenor-wise MCLR
Overnight - 6.95%
One month - 7.05%
Three month - 7.60%
Six month - 7.60%
One year - 7.65%
Two year - 7.70%
Three year - 7.70%
The Bank has revised the Repo Linked Lending Rate to 8.25% (i.e. 5.40% + 2.85%) with effect from 10 August 2022.
The Bank has reduced the Benchmark Prime Lending Rate of the Bank by 200 basis points from existing 15.50% to 13.50% with effect from 10 August 2022.
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