Archive · 19 Jul 2026
South Indian Bank Revises MCLR Rates
South Indian Bank has changed its MCLR rates, which are used to calculate interest rates for loans like home, car, and personal loans.
These new rates start from July 20, 2026.
The bank didn't say if the rates went up or down.
If you have a loan linked to MCLR, your EMI might change, but not right away.
It depends on when your loan's interest rate is reviewed.
New borrowers should check the final interest rate, processing charges, and other conditions before taking a loan.
South Indian Bank revised MCLR rates effective July 20, 2026.
New MCLR rates range from 8.00% (overnight) to 9.50% (one-year).
Impact on existing loans depends on the reset date and loan agreement.
New borrowers should check final interest rate, processing charges, and other conditions.
The bank did not compare new rates with previous MCLR, so it's unclear if rates increased or decreased.
- Who
- South Indian Bank
- What
- Revised MCLR rates for different loan tenures
- When
- Effective from July 20, 2026
- Where
- Applicable to loans linked to South Indian Bank's MCLR
- Why
- To reflect current market conditions and funding costs
Borrowers
Bank
Interest Rate Impact
Borrowers
Borrowers may face higher or lower EMIs depending on the revised MCLR rates.
Bank
The bank's revised MCLR rates aim to reflect current market conditions and funding costs.
- Effective Date
- July 20, 2026
- Overnight MCLR
- 8.00%
- One-month MCLR
- 8.45%
- Three-month MCLR
- 9.40%
- Six-month MCLR
- 9.45%
- One-year MCLR
- 9.50%
- Impact on Existing Loans
- Depends on the reset date and loan agreement
- Impact on New Loans
- Final interest rate depends on applicant's profile and loan type