Indian Bank raises MCLR by up to 0.10%
State-owned Indian Bank has hiked the marginal cost of funds based lending rate (MCLR) by up to 0.10 per cent for various tenors beginning July 20. The bank has revised the marginal cost of funds based lending rates with effect from July 20, the bank said in a regulatory filing.
The MCLR for overnight loans will be 8.05 % from Friday, up from 8 % earlier.
For 1-3-6 months tenor loans, the new rates are up by 0.10 per cent each to 8.15 per cent, 8.35 per cent and 8.50 per cent, respectively. Likewise, for 1-3-5 years, the new rates are up by 0.10 per cent each at 8.60 per cent, 8.80 per cent and 9.05 per cent respectively. Stock of Indian Bank closed 3.08 per cent down at Rs 328.40 on BSE.