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Corporate News
02-Jan-24
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Indian Bank announces changes in lending rates
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Indian Bank has reviewed the Marginal Cost of funds based Lending Rate (MCLR), Treasury Bills Linked Lending Rates (TBLR), Base Rate and Benchmark Prime Lending Rate (BPLR) and decided for revision in MCLR, TBLR, Base Rate and BPLR across Tenors, as detailed below:
MCLR
Overnight - 8.10%
1 month - 8.30%
3 months - 8.45%
6 months - 8.65%
1 Year - 8.80%
TBLR
<= 3 months - 6.95%
>3 months &<=6 months - 7.15%
>6 months &<=1 year - 7.15%
>1 year &<= 3 Years - 7.15%
Base Rate - 9.70%
BPLR - 13.95%
Other Benchmarks
Policy Repo Rate - 6.50%
Repo Linked Benchmark Lending Rates (RBLR) - 9.20%
The revised MCLR, TBLR, Base Rate and BPLR are effective from 03 January 2024. Other Benchmark Rates viz., Policy Repo Rate and RBLR remain unchanged.
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