Indian Overseas Bank MCLR rates will rise by five basis points across five lending tenors with effect from August 15, 2026, the public sector lender said in a BSE filing on August 13. The revision covers tenors ranging from three months to three years, while the overnight and one-month rates will remain unchanged until the bank’s next review.

The Chennai-headquartered bank informed BSE and the National Stock Exchange about the rate revision under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Indian Overseas Bank trades under BSE scrip code 532388 and NSE symbol IOB.

Revised tenor-wise lending rates

The bank increased its three-month, six-month, one-year, two-year and three-year MCLR by 5 basis points each. The revised rates notified to the exchanges are:

Tenor Existing MCLR Change Revised MCLR
Overnight 7.90% No change 7.90%
One month 8.25% No change 8.25%
Three months 8.40% +5 bps 8.45%
Six months 8.65% +5 bps 8.70%
One year 8.80% +5 bps 8.85%
Two years 8.80% +5 bps 8.85%
Three years 8.85% +5 bps 8.90%

Rates effective until further review

Following the revision, the bank’s MCLR range will extend from 7.90% for overnight borrowing to 8.90% for the three-year tenor. The one-year and two-year benchmarks will both stand at 8.85%, while the six-month rate will be 8.70% and the three-month rate 8.45%.

The filing states that these rates will apply from August 15 and remain in force until further review. No change was announced for the overnight MCLR of 7.90% or the one-month MCLR of 8.25%.

The exchange communication was signed by Raghuram Mallela, Deputy General Manager and Company Secretary and Compliance Officer of Indian Overseas Bank. The filing was submitted to BSE and NSE for information and appropriate dissemination.

Source: BSE corporate announcement.