Bank of India Announces Changes in MCLR and Fixed Rate Spread Effective June 1, 2026
Bank of India announced changes to its Marginal Cost of Fund based Lending Rate (MCLR) and Fixed Rate Spread (FRS), which will be applicable starting June 1, 2026. The bank confirmed that the Repo Based Lending Rate (RBLR) will remain unchanged from this date.The MCLR and FRS revisions affect various lending products, with the revised rates structured across different tenors.
Updated MCLR Rates
Bank of India provided the MCLR rates applicable prior to June 1, 2026, along with the revised rates effective from June 1, 2026.The MCLR rate effective from May 1, 2026, was:
| Rate effective from | Overnight MCLR | 1 Month MCLR | 3 Month MCLR | 6 Month MCLR | 1 Year MCLR | 3 Year MCLR |
|---|---|---|---|---|---|---|
| 01.05.2026 | 7.70% | 8.05% | 8.20% | 8.60% | 8.75% | 8.90% |
Following the scheduled change, the revised MCLR rates effective from June 1, 2026, are:
| Rate effective from | Overnight MCLR | 1 Month MCLR | 3 Month MCLR | 6 Month MCLR | 1 Year MCLR | 3 Year MCLR |
|---|---|---|---|---|---|---|
| 01.06.2026 | 7.80% | 8.10% | 8.25% | 8.65% | 8.75% | 8.90% |
Fixed Rate Spread (FRS) Revision
The Fixed Rate Spread (FRS) has also been revised, effective from June 1, 2026. The new spreads are structured as follows:| Tenor | 1 Yr | 2 Yr | 3 Yr | 5 Yr | Above 5 Yr |
|---|---|---|---|---|---|
| Rate of Interest | 8.75%+CRP | 9.25%+CRP | 9.50%+CRP | 9.85%+CRP | 8.75%+Tenor Premium+ CRP |
BANKINDIA Stock Price Movement
Bank of India shares slipped by 1.65% to settle at ₹139.91 on Friday. The stock witnessed considerable volume, with 12.10 million shares traded during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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