Indian Overseas Bank Reduces Select MCLR Rates Effective April 15
Indian Overseas Bank announced that its Asset Liability Management Committee (ALCO), following a review of MCLR workings on April 13, 2026, has decided to modify several Marginal Cost of Funds based Lending Rates (MCLR). The Bank resolved to reduce the Overnight, 1-Year, and 2-Year MCLR by 5 basis points (bps) each, with the revised rates becoming effective from April 15, 2026.The revised MCLR structure, applicable until further review, details the change across various tenors.
The changes in the MCLR across different tenors are summarized below:
| Tenor | Existing MCLR (%) w.e.f 15.03.2026 | Change | Revised MCLR (%) w.e.f 15.04.2026 | MCLR Type |
|---|---|---|---|---|
| Overnight | N/A | (-) 5 bps | 7.90 | Overnight MCLR |
| One-Month | 8.2 | No Change | 8.20 | One-Month MCLR |
| Three-Month | 8.4 | No Change | 8.40 | Three-Month MCLR |
| Six-Month | 8.65 | No Change | 8.65 | Six-Month MCLR |
| One Year | 8.8 | (-) 5 bps | 8.75 | One Year MCLR |
| Two Year | 8.8 | (-) 5 bps | 8.75 | Two Year MCLR |
| Three Year | 8.85 | No Change | 8.85 | Three Year MCLR |
IOB Stock Price Movement
Indian Overseas Bank shares today slipped by 0.29% to settle at ₹34.49, marking a dip from its previous close. The banking stock saw a total traded volume of 4.53 million shares during the session.Source:
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