MCLR Revision Announced: Tamilnad Mercantile Bank Details Changes Effective July 7
Tamilnad Mercantile Bank Limited has announced a revision to its Marginal Cost of Funds Based Lending Rate (MCLR). The revised rates will be applicable starting from July 7, 2026.The bank provided details regarding the adjustments across various lending tenors. The MCLR revisions reflect changes in the existing rate structure for consumers.
Key updates to the MCLR are presented below:
| Tenor | Existing Rate | Revised Rate |
|---|---|---|
| Overnight | 7.60% | 7.70% |
| One Month MCLR | 7.60% | 7.70% |
| Three Month MCLR | 8.30% | 8.40% |
| Six Month MCLR | 8.85% | 8.95% |
| One Year MCLR | 9.25% | 9.35% |
PSB Stock Price Movement
As of 12:28 PM, shares of Punjab & Sind Bank are slipping by 0.04%, currently trading at ₹24.74 as the market progresses. The stock has seen steady activity, with a total traded volume reaching 887,693 shares so far today.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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