South Indian Bank makes out changes in Marginal Cost of Funds Based Lending Rates

The Private lender has listed under the exchange filing that, in regulation 30 of the SEBI [Listing Obligations and Disclosures Requirements], Regulation, 2015, this is to inform that, Marginal Cost of Funds Based Lending Rates, MCLR applicable for multiple tenors has been revised with effect from 20th February, 2024.

The rates revised are coordinated as, Overnight MCLR standing at 9.70%, One-month MCLR standing at 9.75%, Three-month MCLR standing at 9.80%, Six-month MCLR standing at 9.85%, One-year MCLR at 9.95%.

The South Indian Bank Limited [SIB] is a major private sector bank headquartered at Thrissur in Kerala, India. As of March 31, 2023, the Bank had a network of 948 banking outlets [947 Branches & 1 Service Branch] and 1304 ATMs/CRMs [1180 ATMs and 1323 CRMs] spanning 26 states and 4 union territories.

The consumer facilities are provided as, Credit cards, Mutual Fund Trading, Demat accounts, Consumer banking, Corporate banking, Finance and Insurance, Mortgage loans, Private banking, Wealth management, and Investment banking.