Indian Overseas Bank revises its MCLR & base rates

New Delhi: State-owned Indian Overseas Bank said in a regulatory filing on Tuesday that it has revised its MCLR and base rates. "The Asset Liability Management Committee of our bank decided to increase the base rate to 8.9 percent from the existing 8.1 percent with effect from March 10," the filing added.

"The bank has revised its overnight MCLR from 7.8 percent to 7.9 percent. One-month MCLR rate has increased from 7.9 percent to 8.05 percent. Its three-month MCLR rate has increased from 8.2 percent to 8.35 percent. Six-month MCLR rate has increased from 8.35 percent to 8.5 percent. One-year MCLR rate has increased from 8.45 percent to 8.6 percent. Two-year MCLR rate has increased from 8.5 percent to 8.65 percent. Three-year MCLR rate has increased from 8.55 percent to 8.7 percent," said the filing.

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