Indian Overseas Bank Revises One-Month MCLR to 8.20% Effective 15th March 2026
Chennai, 12 March 2026: Indian Overseas Bank (IOB) has announced a revision in its Marginal Cost of Funds based Lending Rate (MCLR) following a review by its Asset Liability Management Committee (ALCO) on 12th March 2026.
The key update is a reduction in the One-Month MCLR from 8.30% to 8.20%, effective from 15th March 2026. All other tenors remain unchanged. The detailed MCLR structure is as follows:
| Tenor | Existing MCLR (%) | Change | Revised MCLR (%) w.e.f 15.03.2026 |
|---|---|---|---|
| Overnight | 7.95 | No Change | 7.95 |
| One-Month | 8.30 | -10 bps | 8.20 |
| Three-Month | 8.40 | No Change | 8.40 |
| Six-Month | 8.65 | No Change | 8.65 |
| One-Year | 8.80 | No Change | 8.80 |
| Two-Year | 8.80 | No Change | 8.80 |
| Three-Year | 8.85 | No Change | 8.85 |
The revision has been communicated in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
About Indian Overseas Bank:
Established with its central office in Chennai, IOB is a leading public sector bank providing comprehensive banking and financial services across India. The bank regularly reviews MCLR rates to ensure alignment with market conditions and cost of funds.
For media inquiries, contact:
Raghuram Mallela
Deputy General Manager / Company Secretary & Compliance Officer
Email: investor@iobnet.co.in
Phone: 044 – 7172 9791 / 2888 9360