Bank of India — Important, 30-11-2024: Updates

Revised Marginal Cost of Fund based Lending Rate (MCLR) has been implemented by Bank of India, effective from 01.12.2024. The updated MCLR rates are as follows: Overnight MCLR remains at 8.20%, while the 1 Month MCLR increases to 8.45%, and the 3 Month MCLR to 8.60%. The 6 Month MCLR stays at 8.85%, the 1 Year MCLR is at 9.00%, and the 3 Year MCLR is at 9.10%. There are no changes announced for the Repo Based Lending Rate (RBLR) or Fixed Rate Spread (FRS). The revision in MCLR aligns with the bank’s Pricing Policy as approved by its Board, indicating an adaptation to current market conditions that may enhance lending competitiveness.