Bank of India Revisions Marginal Cost of Fund based Lending Rate (MCLR) and Sets Fixed Rate Spread (FRS) Rates
Bank of India has revised its Marginal Cost of Fund based Lending Rate (MCLR) and determined Fixed Rate Spread (FRS) rates, effective from August 1, 2026, following a decision by the bank's Asset Liability Committee (ALCO).The MCLR revisions reflect updates across various lending tenors. The Overnight MCLR remains unchanged at 7.85%. For other tenors, the rates have been updated as follows:
| Rate effective from | Overnight MCLR | 1 Month MCLR | 3 Month MCLR | 6 Month MCLR | 1 Year MCLR | 3 Year MCLR |
|---|---|---|---|---|---|---|
| 01.08.2026 | 7.85% | 8.15% | 8.35% | 8.65% | 8.80% | 8.90% |
Prior to the revision, the MCLR rates effective from July 1, 2026, included an Overnight MCLR of 7.85%, a 1 Month MCLR at 8.15%, a 3 Month MCLR at 8.25%, a 6 Month MCLR at 8.65%, and a 3 Year MCLR at 8.90%.
The ALCO has also set the following Fixed Rate Spread (FRS) rates across various tenors:
| Tenor | Rate of Interest |
|---|---|
| 1 Yr | 8.75% + CRP |
| 2 Yr | 9.06% + CRP |
| 3 Yr | 9.34% + CRP |
| 5 Yr | 9.59% + CRP |
| Above 5 Yr | 8.75% + Tenor Premium + CRP |
BANKINDIA Stock Price Movement
Shares of Bank of India settled lower today, closing at ₹137.22 after shedding 0.18% from the previous session’s close. The stock saw a total traded volume of 5.36 million shares in post-market activity.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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