Indian Bank — Important, 01-02-2025: Updates

The Asset Liability Management Committee (ALCO) of Indian Bank has revised the Marginal Cost of Funds based Lending Rate (MCLR) and Treasury Bills Linked Lending Rates (TBLR). The updated MCLR rates are now set at 6.55% for loans with a tenor of up to 3 months and 6.65% for tenors between 3 months and 1 year. For loans with tenors exceeding 1 year but up to 3 years, the rate remains at 6.65%. Correspondingly, the TBLR rates have also been adjusted, showing a slight increase across various tenors. These changes will take effect from 3rd February 2025, impacting lending costs for borrowers. Other benchmark rates such as the Base Rate and BPLR remain unchanged. Stakeholders should monitor these developments, as adjustments in lending rates can influence borrowing costs and the overall financial landscape for the bank's clients.