IOB cuts MCLR by 10 basis points

Indian Overseas Bank (IOB) has announced a 10 basis point reduction in its Marginal Cost of Funds-Based Lending Rate (MCLR) across all tenors, effective July 15, 2025.

Listen to this article

The decision follows a recent review by the bank’s Asset Liability Management Committee (ALCO), which convened on July 14, said a statement.

The revised MCLR rates effective July 15, 2025, are as follows: the overnight rate has been reduced from 8.25% to 8.15%, the one-month rate from 8.50% to 8.40%, the three-month rate from 8.65% to 8.55%, the six-month rate from 8.90% to 8.80%, and the one-year rate from 9.10% to 9.00%.

This move comes shortly after the bank had reduced its Repo Linked Lending Rate (RLLR) by 50 basis points—from 8.85% to 8.35%—with effect from June 12, 2025.

The rate cut is expected to lower borrowing costs for retail and corporate customers.

Latest

No longer required to pay State levies: Dalmia Bharat

The Act notified by the Central Government as amended...

Grounding of Parandur plan: Will it hurt TN dream?

The proposed second airport project at Parandur was announced...

FM Sitharaman to visit Canada, US

During her visit to Toronto, Canada,  Sitharaman will participate in...

UPI completes 10 years

Annual transaction volume expanded from just 1.78 crore transactions...

Newsletter

Don't miss

No longer required to pay State levies: Dalmia Bharat

The Act notified by the Central Government as amended...

Grounding of Parandur plan: Will it hurt TN dream?

The proposed second airport project at Parandur was announced...

FM Sitharaman to visit Canada, US

During her visit to Toronto, Canada,  Sitharaman will participate in...

UPI completes 10 years

Annual transaction volume expanded from just 1.78 crore transactions...

TCS lands major deal from Porsche

The acquisition will strengthen TCS’ presence in the German...

No longer required to pay State levies: Dalmia Bharat

The Act notified by the Central Government as amended the Mines and Minerals (Development and Regulation) Act, 1957 (“MMDR”), to restrict the imposition of...

Grounding of Parandur plan: Will it hurt TN dream?

The proposed second airport project at Parandur was announced in August 2022. Since then, people in and around the village have been protesting and...

FM Sitharaman to visit Canada, US

During her visit to Toronto, Canada,  Sitharaman will participate in the inaugural Economic and Financial Dialogue with H.E. Mr. François-Philippe Champagne, Minister of Finance and National Revenue...