CHENNAI, March 13, 2026: Indian Overseas Bank (IOB), a leading Public Sector Bank has announced a reduction in its Marginal Cost of Funds Based Lending Rate (MCLR), following a comprehensive review by the Bank’s Asset Liability Management Committee (ALCO) on March 12, 2026. The committee reviewed the MCLR workings as of March 10, 2026, and approved a reduction in short-term borrowing costs to better align with current market dynamics.
Specifically, the Bank has reduced its One-Month MCLR by 10 basis points (bps), lowering it to 8.20%. from the existing 8.30% This revised rate structure is scheduled to be implemented starting March 15, 2026.
The revision has been communicated in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
