Archive · 15 Aug 2025
IOB Slashes MCLR by 10 Bps Across All Tenures
Indian Overseas Bank (IOB) has lowered its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points for all loan periods.
This means people who have loans from the bank will likely pay less each month.
This is the second time IOB has lowered the rate in a month.
MCLR is the minimum interest rate a bank can offer on loans.
The bank hopes this reduction will encourage more people to take out loans for things like houses and personal needs.
The changes took effect on August 15th.
Indian Overseas Bank (IOB) cut its MCLR by 10 basis points across all tenures.
The revised rates became effective from August 15.
This is the second MCLR reduction within a month.
MCLR is the benchmark lending rate for banks.
The cut aims to boost retail loan demand.
- Who
- Indian Overseas Bank (IOB)
- What
- IOB cut its MCLR by 10 bps across all tenures
- When
- August 15
- Where
- IOB
- Why
- To boost retail loan demand.
Borrower Perspective
Bank Perspective
Interest Rate Impact
Borrower Perspective
Reduced EMIs
Bank Perspective
Bank Profitability
- Overnight MCLR
- 8.05%
- One Month MCLR
- 8.3%
- Three Months MCLR
- 8.45%
- Six Months MCLR
- 8.7%
- One Year MCLR
- 8.9%
Sources
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