Indian Overseas Bank — Important, 13-11-2024: Updates

The Assets and Liabilities Management Committee of Indian Overseas Bank has reviewed and increased the one-year Marginal Cost of Funds based Lending Rate (MCLR) by 5 basis points, effective from 15.11.2024. The revised one-year MCLR will now be 9.05%. Other tenors remain unchanged, with the overnight rate at 8.25%, one-month at 8.50%, three-month at 8.60%, six-month at 8.85%, two-year at 9.00%, and three-year at 9.15%. This revision may impact the bank's loan pricing and ultimately affect its profitability, encouraging investors to watch the bank's upcoming performance closely.