Indian Overseas Bank raises lending rates by 5 bps across six tenors from October 15
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Indian Overseas Bank raised its lending rates by 5 basis points across six tenors from October 15, 2026.
- ✓The bank said these revised rates will remain in effect until further review.
- ✓This change means many customers might see higher borrowing costs on their loans, depending on their specific loan reset dates.
Story at a Glance
- Category
- MARKET
- Reported By
- cnbctv18
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Indian Overseas Bank has raised its Marginal Cost of Funds-based Lending Rate (MCLR) by 5 basis points across six tenors, effective October 15, 2026. The one-month lending rate remains unchanged.
The overnight MCLR has increased to 7.95% from 7.90%, while the three-month rate has risen to 8.50% from 8.45%. The six-month MCLR has been raised to 8.75% from 8.70%.
The one-year and two-year MCLR rates have each increased to 8.90% from 8.85%. The three-year rate has risen to 8.95% from 8.90%.
The one-month MCLR remains at 8.25%. The revised rates will remain in effect until further review, the bank said.
MCLR is a benchmark used by banks to determine interest rates on certain loans. An increase can raise borrowing costs for customers whose loans are linked to the revised benchmark, depending on their loan terms and reset dates.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
cnbctv18
Read the full, original unfiltered story directly on the publisher's portal.